Opinion
BK-03-52103-GWZ, BK-03-52790-GWZ, Jointly Administered under, BK-03-52103-GWZ.
October 19, 2004
Craig D. Hansen (AZ Bar No. 007405), Thomas J. Salerno (AZ Bar No. 007492), Sean T. Cork (CA Bar No. 211963), SQUIRE, SANDERS DEMPSEY L.L.P. Phoenix, Arizona, Attorneys for Reorganized Debtors.
Bruce T. Beesley (NV Bar No. 1164), Bridget R. Peck (NV Bar No. 3143), BEESLEY, PECK MATTEONI, LTD, Reno, Nevada, Co-Counsel for Reorganized Debtors.
ORDER GRANTING RELIEF ON REORGANIZED DEBTORS' OBJECTION TO PREFERRED STOCK PROOF OF CLAIM NUMBER 722
Upon the "Reorganized Debtors' Objection to Preferred Stock Proof of Claim Number 722" dated August 11, 2004 (the "Objection") (Docket No. 1175), of AMERCO and Amerco Real Estate Company, the reorganized debtors in the above-captioned Chapter 11 proceedings (together, the "Reorganized Debtors"), for entry of an order, under section 502(b) of the United States Bankruptcy Code, 11 U.S.C. §§ 101- 1330 (the "Bankruptcy Code") disallowing Claim No. 722 filed by Benjamin Crisses and Jane Reiner (the "Claimants") seeking undeclared dividends on Series A 8½% Preferred Stock in AMERCO (the "Preferred Stock"); this Court finds and concludes that: (i) it has jurisdiction over the matters raised in the Objection under 28 U.S.C. §§ 157 and 1334; (ii) venue of this matter is proper pursuant to 28 U.S.C. §§ 1408 and 1409; (iii) this matter is a core proceeding pursuant to 28 U.S.C. § 157(b)(2); (iv) notice of the Objection (Docket No. 1175) was given to Claimants at the address set forth on their proof of claim and such notice required that, if Claimants opposed the relief requested in the Objection, they must file a response no later than 30 days after receipt of the Objection (the "Response Deadline"); (v) notice of the Objection was proper and adequate, and no additional notice of the Objection or the relief requested therein is appropriate under the circumstances; (vi) Claimants did not respond to the Objection, either before the Response Deadline or before the entry of this Order, and is, therefore, deemed to have consented to the relief requested in the Objection as to their claims; (vii) the relief requested in the Objection is in the best interest of the Reorganized Debtors, their estates, their creditors, and other parties-in-interest; and (viii) good and sufficient cause exists for the granting of the relief requested in the Objection as set forth herein,
IT IS HEREBY ORDERED, ADJUDGED AND DECREED THAT:
1. The Objection is SUSTAINED.
2. Claim No. 722 filed by Claimantd is DISALLOWED and expunged in its entirety, and Claimants will not receive any distributions from the Reorganized Debtors' estates on account of such Claim.
3. This Order will not impair any ownership interests in the Preferred Stock and is without prejudice to any rights possessed by Claimants as holders of Preferred Stock, including, without limitation, the right to receive any dividends that may be declared in the future.