Case No. 02-B02474, (Jointly Administered).United States Bankruptcy Court, N.D. Illinois, Eastern Division.
March 7, 2005
William J. Barrett, Esq., Barack, Ferrazzano, Kirschbaum, Perlman Nagelberg LLC, Chicago, IL, for KMART CORPORATION.
Richard A. Cowen, Stahl Cowen Crowley LLC, Chicago, IL, for JOHN B. SANFILIPPO SON, INC.
STIPULATION AND ORDER REGARDING CLAIM NUMBERED 28640 AND 45729
SUSAN SONDERBY, Chief Judge, Bankruptcy
This Stipulation and Order is among the above-captioned debtors (collectively “Kmart”), and John B. Sanfilippo Son, Inc. (“Creditor”), in connection with the following:
A. On July 15, 2002, Creditor filed claim number 28640 in the amount of $145,461.33 (the “Claim 28640”).
B. Kmart filed the Fourth and Nineteenth Omnibus Objection to Claim 28640.
C. On October 7, 2002, Creditor filed claim number 45729 in the amount of $1,550,000.00 (the “Claim 45729”).
D. Kmart filed the Seventh and Eighteenth Omnibus Objection to Claim 45729.
E. Kmart and Creditor agree to settle Claim 45729 as a Class 6 unsecured non-priority pre-petition claim in an amount totaling $477,000.00. This amount will constitute the full and final allowed amount of the Claim. Creditor expressly waives any right to assert any additional claims in respect of this Claim.
F. Kmart and Creditor agree to the withdrawal of Claim 28640.
G. The parties agree to the withdrawal of any and all Omnibus Objections as they related to both Claims, and any and all Responses filed thereto.
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NOW, THEREFORE, in consideration of the foregoing, the parties hereto hereby agree as follows:
1. The Claim of Creditor is allowed as a Class 6 unsecured non-priority pre-petition claim in an amount totaling $477,000.00, constituting the full and final allowed amount of the Claim. The Claim shall be treated and satisfied according to Article V, Section 5.6 of the First Amended Joint Plan of Reorganization of Kmart Corporation and its Affiliated Debtors and Debtors-in-Possession.
2. Creditor and each of its affiliates, successors, assigns and designees, hereby releases Kmart from all claims and causes of action arising under or in connection with both Claims, either on or before the entry of this Stipulation and Order.
3. The Bankruptcy Court shall retain jurisdiction to hear any dispute arising out of the terms and enforcement of this Stipulation and Order.
4. This Stipulation and Order may be executed in counterparts and such counterparts may be exchanged by facsimile.
IN WITNESS WHEREOF, the parties hereto have entered into this Stipulation as of the day and year first set forth above.