Opinion
Case No. 01-16034 (AJG), Jointly Administered.
June 8, 2005
RMS MONTE CHRISTO LLC/CRYSTAL, by and through its counsel, HOLLAND HART LLP, Risa Lynn Wolf-Smith, Holly S. Stein, Holland Hart LLP, Denver, CO, Attorneys for RMS MONTE CHRISTO LLC/CRYSTAL.
REORGANIZED DEBTORS, by and through their counsel, WEIL, GOTSHAL MANGES LLP, Martin J. Bienenstock (MB 3001), Brian S. Rosen (BR 0571), Melanie Gray (Pro Hac Vice), WEIL, GOTSHAL MANGES LLP, New York, New York, Attorneys for Reorganized Debtors.
STIPULATION AND ORDER RESOLVING THE SEVENTY-EIGHTH OMNIBUS OBJECTION TO PROOF OF CLAIM NO. 16184 FILED BY RMS MONTE CHRISTO LLC/CRYSTAL
Enron Reserve Acquisition Corp. ("ERAC") and Enron North America Corp. ("ENA"), as reorganized debtors (the "Reorganized Debtors"), and RMS Monte Christo LLC/Crystal ("Creditor", and together with ERAC and ENA, the "Parties"), by and through their respective undersigned counsel, hereby stipulate and agree as follows:
RECITALS:
Procedural Background:
A. On December 2, 2001 (the "Petition Date") and from time to time thereafter, Enron Corp. ("Enron") and certain of its direct and indirect subsidiaries (collectively, the "Debtors") filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code").
References to the Debtors include the Reorganized Debtors (as defined in the Plan (defined hereafter)), where appropriate.
B. On July 15, 2004, the Court entered an order confirming the Debtors' Supplemental Modified Fifth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code, dated as of July 2, 2004 (the "Plan"). On November 17, 2004, the Plan became effective. The Proof of Claim:
C. On or about October 15, 2002, Creditor filed Proof of Claim 16184 in the amount of $250,000.00 in ENA's chapter 11 case (the "Claim").
D. On or about January 31, 2005, the Reorganized Debtors filed their Seventy-Eighth Omnibus Objection (Modify and Allow) (the "78th Objection"), pursuant to which the Reorganized Debtors sought to have the Claim modified.
E. On or about March 3, 2005, Creditor filed its response to the 78th Objection (the "Response"). See Docket no. 24224.
F. The Parties now desire to resolve the 78th Objection and the Response thereto and provide for the allowance of the Claim on the terms and conditions provided herein.
AGREEMENT
NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES, BY AND THROUGH THEIR RESPECTIVE COUNSEL, AS FOLLOWS:
1. The Claim, Claim No. 16184, will be allowed as a General Unsecured Claim (as defined in the Plan) in the amount of $80,096.65 against ERAC (the "Allowed Claim"). All scheduled liabilities related to Creditor as set forth in the Schedules (as defined in the Plan) are hereby disallowed in their entirety in favor of the Allowed Claim.
2. The Parties agree that this Stipulation and Order is the entire understanding of the Parties and is intended to be the complete and exclusive statement of the terms thereof and may not be modified or amended except by a writing signed by all the Parties hereto, which shall be so ordered by the Court.
3. The Stipulation and Order shall become effective and binding as of entry of the Stipulation and Order on the docket as "so ordered" by the Court. In the event that this Stipulation and Order is not approved by the Court, it shall be null and void and have no force and effect.
4. The Objection to the Claim as contained in the Seventy-Eighth Omnibus Objection are resolved as provided herein.
5. This Court shall retain exclusive jurisdiction with respect to any and all issues or disputes that may arise in connection with this Stipulation and Order.
6. This Stipulation and Order shall be binding on the Parties hereto and their respective successors and assigns.
7. This Stipulation and Order may be executed in any number of counterparts and shall constitute one agreement, binding upon all Parties thereto as if all Parties signed the same document; all facsimile signatures shall be treated as originals for all purposes.
SO ORDERED.