Opinion
BK-03-52103-GWZ, BK-03-52790, Jointly Administered under BK-03-52103-GWZ
June 9, 2004
BEESLEY, PECK MATTEONI, LTD., BRIDGET ROBB PECK, Attorneys for Reorganized Debtor and Reorganized Debtor-in-Possession.
LEWIS AND ROCA LLP, BRENT C. GARDNER, Attorneys for Bank One, NA.
Stipulation Between Reorganized Debtors and Bank One, NA, Withdrawing Claim Number 321; ORDER APPROVING STIPULATION. STIPULATION
AMERCO and Amerco Real Estate Company ("AREC") reorganized debtors and reorganized debtors-in-possession in the above-captioned, jointly administered chapter 11 cases (the "Reorganized Debtors"), and Bank One, NA ("Claimant") through their respective counsel, stipulate as follows:
1. AMERCO commenced its bankruptcy proceeding on June 20, 2003 (the "AMERCO Petition Date"), under Chapter 11 of Title 11 of the United States Code (the Bankruptcy Code"). AREC commenced its Chapter 11 bankruptcy case on August 13, 2003 (the "AREC Petition Date").
2. On February 20, 2004, the Court entered an order (the "Confirmation Order") (Docket No. 796) confirming the Debtor's First Amended Joint Plan of Reorganization (the "Plan"). The Plan became effective on March 15, 2004 (the "Effective Date").
3. On September 30, 2003, the Court entered an order (the "Bar Date Order") (Docket No. 415) setting November 10, 2003 as the bar date for filing proofs of claim in these Chapter 11 cases (the "Bar Date").
4. On November 6, 2003, Claimant filed Claim No. 321 in the sum of $2,240,000.00. This claim was based upon a Standby Letter of Credit issued by Claimant, but not drawn upon. This Letter of Credit has now been terminated, rendering Claim No. 321 moot.
5. Based upon the foregoing, the Reorganized Debtors and the Claimant stipulate and agree that Claim No. 321 (the "Claim") has been rendered moot, that no additional or further distributions of cash or other property need to be made on account of such Claim, and that the Claim should be withdrawn.
6. Accordingly, the Reorganized Debtors and the Claimant stipulate to the proposed Order set forth below withdrawing the Claim.
WHEREFORE, the parties request an order approving and granting relief consistent with this Stipulation.
ORDER
Based on the stipulation of the parties, and good cause appearing
IT IS HEREBY ORDERD that:
Claim No. 321 filed by Bank One, NA, is withdrawn as moot, and Bank One, NA shall receive no distributions from the Reorganized Debtors' Estates on account of such claim.