No. BK-N-01-31627United States Bankruptcy Court, D. Nevada
August 30, 2002
Attorneys for the Debtors and Debtors-in-Possession: Jennifer A. Smith (State Bar No. 610); Etta L. Walker (State Bar No. 5537); LIONEL SAWYER COLLINS; Reno, Nevada.
Timothy R. Pohl, SKADDEN, ARPS, SLATE, MEAGHER FLOM (ILLINOIS); Chicago, Illinois.
Gregg M. Galardi, Eric M. Davis; SKADDEN, ARPS, SLATE, MEAGHER
FLOM LLP; Wilmington, Delaware.
Attorneys for the Plan Committee: Michael A. T. Pagni.
Attorneys for Balfour Beatty Construction, Inc.: Bob L. Olson.
ORDER REGARDING ENFORCEMENT OF THE MUTUAL RELEASE BETWEEN THE REORGANIZED DEBTORS AND BALFOUR BEATTY AND CALCULATION OF STRIKE PRICES FOR CLASS 7 WARRANTS
GREGG W. ZIVE, United States Bankruptcy Judge
Upon the Motion of Balfour Beatty Construction, Inc. for Determination of Strike Prices for Class 7 Warrants, the Brief by Reorganized Debtors Regarding Enforcement of the Mutual Release, the Opposition of Plan Committee to Motion for Determination of Strike Prices for Class 7 Warrants, and all replies, declarations and supporting pleadings related thereto (collectively, the “Strike Price Pleadings”);[1] and after due deliberation thereon; and good cause appearing therefore; it is hereby
FOUND AND DETERMINED THAT:
1. Notice of the Strike Price Pleadings was good and sufficient under the circumstances, and no further or additional notice need be given;
2. The Reorganized Debtors have satisfied all of the conditions precedent in the Mutual Release necessary to require Balfour Beatty to dismiss the Florida Litigation, including without limitation (a) the occurrence of the Effective Date of the Plan of Reorganization, (b) the payment by the Reorganized Debtors to Balfour Beatty of $500,000 and (c) the receipt by Balfour Beatty of a distribution of Common Stock and Class 7 Stock Warrants; and
3. The strike prices calculated by the Reorganized Debtors, and incorporated into the Warrant Agreement dated January 25, 2002, were correctly calculated in accordance with the Plan of Reorganization. It is therefore
ORDERED, ADJUDGED AND DECREED THAT:
1. Balfour Beatty shall execute and authorize the filing of any and all documents necessary to effectuate the dismissal of the Florida Litigation forthwith;
2. The strike prices for the Class 7 Stock Warrants incorporated into the Warrant Agreement dated January 25, 2002 are hereby approved; and
3. All parties shall bear their own costs and expenses related to the Strike Price Pleadings.