In re Enron Corp.

Full title: In re ENRON CORP., et al., Chapter 11, Debtors

Court: United States Bankruptcy Court, S.D. New York

Date published: Jul 14, 2005

Case No. 01-16034 (AJG), Jointly Administered (Bankr. S.D.N.Y. Jul. 14, 2005)

Opinion

Case No. 01-16034 (AJG), Jointly Administered.

July 14, 2005

WEIL, GOTSHAL MANGES LLP, Attorneys for the Reorganized Debtors, New York, New York, Martin J. Bienenstock (MB 3001), Brian S. Rosen (BR 0571), Michael P. Kessler (MK 7134).

DEWEY BALLANTINE LLP, Attorneys for Potomac, Dianne Coffino (DC 2672), Carey D. Schreiber (CS 3896), New York, New York.

STIPULATION AND ORDER (A) EXTENDING TIME FOR POTOMAC CAPITAL INVESTMENT CORP. TO RESPOND TO OBJECTION TO PROOF OF CLAIM FILED BY POTOMAC CAPITAL INVESTMENT CORP. (CLAIM NO. 13097), (B) PRESERVING THE RIGHTS OF THE REORGANIZED DEBTORS TO FURTHER RESPOND TO CLAIMANT'S RESPONSE, AND (C) ADJOURNING HEARING

ARTHUR GONZALEZ, Bankruptcy Judge

Enron Corp. ("Enron"), for itself and certain of its affiliates (collectively with Enron, the "Reorganized Debtors"), and Potomac Capital Investment Corp. ("Potomac"), by and through their respective counsel, do hereby stipulate as follows:

RECITALS

A. Commencing on December 2, 2001, and periodically thereafter, Enron and certain of its affiliates filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code.

B. On October 15, 2002, Potomac timely filed a proof of claim having Claim No. 13097 (the "Proof of Claim") against Enron.

C. Pursuant to this Court's Order Confirming Supplemental Modified Fifth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code, and Related Relief, dated July 15, 2004, the Reorganized Debtors were required to file objections to claims on or before March 14, 2005 (the "Objection Deadline").

D. Pursuant to an objection, dated February 18, 2005 (the "Objection"), the Reorganized Debtors objected to the Proof of Claim.

E. The hearing to consider the Objection (the "Hearing") initially was scheduled for March 31, 2005 and the deadline for filing responses to the Objection initially was set for March 21, 2005.

F. Thereafter, the Reorganized Debtors and Potomac agreed to: (a) extend the time for Potomac to submit a response ("Response"), if any, to the Objection until July 15, 2005 at 5:00 p.m. New York City time; (b) preserve the right of the Reorganized Debtors to respond to the Response after the Objection Deadline; and (c) adjourn the Hearing until August 4, 2005 at 10:00 a.m. New York City time.

G. The parties now agree that it is in their mutual best interests to: (a) further extend the time for Potomac to submit a Response, if any, to the Objection until August 18, 2005 at 5:00 p.m. New York City time; (b) preserve the right of the Reorganized Debtors to respond to the Response after the Objection Deadline; and (c) adjourn the Hearing until September 1, 2005 at 10:00 a.m. New York City time; provided, however, that the foregoing is without prejudice to the rights of the Reorganized Debtors to adjourn the Hearing, from time to time.

NOW, THEREFORE, the parties hereto, by and through their respective counsel, do hereby agree as follows:

1. Potomac shall have until August 18, 2005 at 5:00 p.m. New York City time to file its Response, if any, to the Objection, and the Reorganized Debtors shall have the right to respond to the Response after the Objection Deadline.

2. The Hearing is hereby adjourned to September 1, 2005 at 10:00 a.m., New York City time; provided, however, that the foregoing is without prejudice to the rights of the Reorganized Debtors to adjourn the Hearing, from time to time.

3. This Stipulation and Order may be executed in counterparts, each of which shall constitute one and the same instrument. Facsimile signatures shall be as effective as an original signature.

SO ORDERED.