Case No. 399-02649, Jointly Administered, Adv.Proc. No. 301-1007AUnited States Bankruptcy Court, M.D. Tennessee.
October 1, 2003
WALLY W. Dietz, Esq., G. Jennings,. Bas s, Berry Sims PLC, Nashville, TN, Charles P. Smith, Esq., Patrick J. Nash, Jr. Esq., Skadden, Arps, Slate, Meagher Flom (Illinois), Chicago, IL, for Plaintiffs
AGREED ORDER OF SETTLEMENT AND DISMISSAL
(Other Landlords)
GEORGE PAINE, Chief Judge, Bankruptcy
Upon the agreement of the parties that this adversary proceeding has been resolved and should be dismissed, the Court FINDS, ADJUDGES AND DECREES:
A. Prior to March 14, 2001, the Plaintiffs, Service Merchandise Company, Inc. (“Service Merchandise”) and 31 of its affiliates (collectively, with Service Merchandise, the “Plaintiffs”), initiated the above-captioned adversary proceeding by filing their Complaint to Avoid Preferential Transfers and to Recover Amount of Such Transfers (the “Complaint”) against the defendant, Elson Cloverleaf, LP (the “Defendant”).
B. The Plaintiffs and the Defendant have reached a settlement and agreed resolution (the “Settlement”) of the subject matter of the Complaint and any and all factual and legal issues raised therein.
C. Pursuant to the Settlement and in partial consideration therefor, the Plaintiffs and the Defendant have agreed to resolve contested proof of claim No. 5264, filed in the amount of $2,811,127.87, by affording the Defendant an allowed, general unsecured claim in the above-captioned chapter 11 cases in the amount of $200,000,
D. In consideration of the Defendant’s resolution of contested proof of claim No. 5264 as set forth herein, the Plaintiffs have agreed to dismiss the Complaint with prejudice, each party to bear its own costs.
NOW, THEREFORE, IT IS HEREBY ORDERED:
1. The Defendant shall have an allowed, general unsecured claim in the above-captioned chapter 11 cases in the amount of $200,000.00.
2. The Complaint shall be and hereby is dismissed, with prejudice, each party bearing its own costs.
3. The Court shall retain jurisdiction to hear any matters or disputes arising from or relating to the Agreed Order of Dismissal.
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