IN RE METROPOLITAN MORTGAGE SECURITIES CO., INC. (Bankr.E.D.Wash. 2005)

In re: METROPOLITAN MORTGAGE SECURITIES CO., INC., Chapter 11 Debtor. In re: SUMMIT SECURITIES, INC., Debtor.

Case No.: 04-00757-W11, (Jointly Administered).United States Bankruptcy Court, E.D. Washington.
March 28, 2005

Jeremy V. Richards, Jonathan J. Kim, PACHULSKI, STANG, ZIEHL, YOUNG, JONES WEINTRAUB P.C., Los Angeles, California, and

Donald D. Hackney, Esq., HACKNEY CARROLL, Spokane, Washington, Attorneys for Examiner, Samuel R. Maizel.

ORDER DENYING MOTION TO PRESERVE AND MAKE AVAILABLE FOR USE WORK DONE BY THE EXAMINER AT THE ESTATE’S EXPENSE, FILED BY THE DEBTORS AND DEBTORS IN POSSESSION RELATED DOCUMENT: [#1880] Debtor’s Motion
PATRICIA WILLIAMS, Chief Judge, Bankruptcy

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Upon the Motion to Preserve and Make Available for Use Work Done by the Examiner at the Estate’s Expense [Docket No. 1880] (the “Motion”) filed herein by the above captioned Debtors and Debtors in Possession (collectively, the “Debtors”), and the joinder (the “Joinder”) in the Motion filed on behalf of the Lead Plaintiffs (as defined in the Joinder), and adequate and sufficient notice of the Motion and Joinder having been provided to all parties in interest; and the Court having conducted a hearing on February 9, 2005 during which interested parties were given the opportunity to be heard with respect to the Motion and the Joinder; and having considered the oppositions and statements (collectively, the “Oppositions”) filed with respect to the Motion and all other pleadings and declarations filed in connection with the Motion and the Joinder; and the Court having announced its ruling on the record in a telephonic hearing held on February 16, 2005; and sufficient cause appearing therefore, it is hereby

ORDERED, ADJUDGED AND DECREED as follows:

1. The Objections are sustained and the Motion is denied.

2. The disposition of the documents and other records which are the subject of the Motion and the Joinder shall be governed by the Court’s Order Granting Motion of Samuel R. Maizel: (A) Terminating Duties And Responsibilities Of Examiner; (B) Exculpating Examiner And His Professionals From Any Liability Arising Out Of, Or In Connection With His Examination And Reports; (C) Establishing Procedures For Disposition Of Documents Provided To Examiner In The Course Of His Examination; (D) Prohibiting Discovery From The Examiner And His Professionals; And (E) Granting Such Other Relief As Is Appropriate.

3. The oral decision rendered by the Court on February 16, 2005 shall constitute the findings of fact and conclusions of law.