Case No. 399-02649, Jointly Administrated Adv.Proc. No. 301-1275AUnited States Bankruptcy Court, M.D. Tennessee, Nashville Division
November 25, 2002
Wally W. Dietz, Esq., Paul G. Jennings, Esq., Beth A. Dunning, Esq., Bass, Berry Sims PLC, Nashville, TN, and Charles F. Smith, Esq., Patrick J. Nash, Jr., Esq., Skadden, Arps, Slate, Meagher Flom (Illinois), Chicago, IL, Attorneys for Debtors and Debtors in Possession.
AGREED ORDER OF SETTLEMENT AND DISMISSAL
GEORGE C. PAINE II, United States Bankruptcy Judge
Upon the agreement of the parties that this adversary proceeding has been resolved and should be dismissed, the Court FINDS, ADJUDGES AND DECREEDS:
A. Prior to March 14, 2001, the Plaintiffs, Service Merchandise Company, Inc. (“Service Merchandise”) and 31 of its affiliates (the “Affiliate Debtors”; 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, Orlando Utilities Commission (the “Defendant”).
B. The Debtors 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, the Defendant has paid the Debtors the principal amount of $750.00.
D. Pursuant to the Settlement and in partial consideration therefor, the Defendant has agreed, as evidenced by the signature of the Defendant below, and is hereby deemed to voluntarily waive any and all claims against the Debtors in these bankruptcy cases for the amount paid by the Defendant pursuant to this agreed order of dismissal (the “Agreed Order of Dismissal”).
E. The Defendant has acknowledged, as evidenced by the signatures below, and is hereby found to have waived any such claim having adequate opportunity to consult with counsel concerning the Defendants legal rights and the effect of this waiver.
F. In consideration of the Defendant’s payment of the principal amount of $750,00, and of the Defendant’s knowing and voluntary waiver of any and all claims against the Debtors in these bankruptcy cases for the amount paid by the Defendant in partial consideration for the Agreed Order of Dismissall the Debtors 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 not have and is forever barred from asserting any claim against the Debtors for the amount paid by the Defendant hereunder. Service Merchandise shall not have and is forever barred from asserting any claim, demand, action, judgment or execution that it has ever had, or now has, or may have against the Defendant, known or unknown, or that any one claiming through or under Service Merchandise may have, or claim to have, against the Defendant.
2. The Complaint shall be and hereby is dismissed, with prejudices 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.