Categories: Bankruptcy Court Opinions

IN RE WADE COOK FINANCIAL CORPORATION (Bankr.W.D.Wash. 2003)

IN RE WADE COOK FINANCIAL CORPORATION; THE STOCK MARKET INSTITUTE OF LEARNING, INC.; INFORMATION QUEST, INC.; and LIGHTHOUSE BOOKS, INC. fka LIGHTHOUSE PUBLISHING GROUP, INC., Debtors.

No. 02-25434-TTG (Substantively Cosolidated)United States Bankruptcy Court, W.D. Washington.
June 13, 2003

FOSTER, PEPPER SHEFELMAN PLLC, Christopher M. Alston, WSBA No. 18823, Michelle M. Carmody, WSBA No. 27286, Brian DeSoto, WSBA No. 31434, Attorneys for Diana K. Carey, Trustee.

ORDER ON TRUSTEE’S MOTION FOR ORDER APPROVING COMPROMISE OF PENDING STATE COURT LITIGATION
THOMAS GLOVER, Chief Judge, Bankruptcy

THIS MATTER came on before the Court upon notice of the motion of Diana K. Carey, chapter 11 trustee for the substantively consolidated estates of the above Debtors (“Trustee”), for an order authorizing her to seek an order of dismissal with prejudice of all claims and counterclaims raised in litigation pending in a Utah State court captioned Stock Market Institute of Learning, Inc. v. H.W. Breinholt; and the Court, having considered the motion and other papers and files herein, hereby finds as follows:

1. That adequate notice of the Motion was given, and that no further notice of the Motion is required; and that

2. It is a reasonable and proper exercise of the Trustee’s business judgment to seek an order of dismissal with prejudice of this matter.

Now, therefore, it is

A. ORDERED that the Trustee’s Motion For Order Approving Compromise Of Pending State Court Litigation is GRANTED; and it is further

B. ORDERED that the Trustee is authorized to seek an order of mutual release and dismissal with prejudice of all claims and counterclaims raised in litigation pending in a Utah State court captioned Stock Market Institute of Learning, Inc. v. H.W. Breinholt.

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