Opinion
Case No. 01-16034 (AJG) Jointly Administered.
May 17, 2005
Upon consideration of the Reorganized Debtors' Eighty-Second Omnibus Objection to Proofs of Claim and Request for Modification and Allowance of Claims, dated February 25, 2005, docket number 23914 (the "Objection"), seeking the entry of an order modifying and allowing certain claims (the "Claim") pursuant to section 502(a) of title 11 of the United States Bankruptcy Code (the "Bankruptcy Code"), as identified on Exhibit A and Exhibit B attached hereto; and it appearing that the modification and allowance of these Claims is in the best interests of the Reorganized Debtors, their creditors and all parties in interest; and, pursuant to Rule 3007 of the Federal Rules of Bankruptcy Procedure, good and sufficient notice having been provided to the attorneys for the statutory committee of unsecured creditors, the Office of the United States Trustee for the Southern District of New York, counsel to the Employment-Related Issues Committee, the persons or entities that filed proofs of claim identified onExhibit A and Exhibit B and their attorneys (if known), and any other parties on the Master Service List; and it appearing that no other or further notice need be provided; and the Court having reviewed the Objection and having heard the statements of counsel in support of the relief requested therein at a hearing before the Court (the "Hearing"); and the Court having determined that the legal and factual bases set forth in the Objection and at the Hearing establish just cause for the relief granted herein; and upon all of the proceedings had before the Court; and after due deliberation and sufficient cause appearing therefor, it is
ORDERED that pursuant to section 502(a) of the Bankruptcy Code the Claim identified on Exhibit A to this Order shall be modified and allowed as set forth on Exhibit B; and it is further
ORDERED that pursuant to section 105 of the Bankruptcy Code and Rule 9019 of the Bankruptcy Rules, the Modify and Allow Agreements summarized on Exhibit A and attached in full asExhibit B, which document the compromise and settlement of the claims subject thereto, are hereby approved in their entirety.
EXHIBIT A Second Supplemental Order Eighty-Second Omnibus Objection (Modity and Allow)
Claimant Information Claim Number Debtor Claim Amount of Claim Claim Class As Debtor To Be Amount of Claim Claim Class As Filed Against As Filed Filed Allowed As Allowed Allowed Sempra Energy Europe Limited 25141 CORP $9,159,930.27 U CORP $9,159,930.27 U c/o Sempra Energy Trading Corp. 58 Commerce Road Attn: Richard I. Beitler Stamford, CT 06902EXHIBIT B
Enron North America Corp. P.O. Box 1188 Houston, TX 77251-1188
FOR SETTLEMENT PURPOSES ONLY SUBJECT TO FEDERAL RULES OF EVIDENCE 408 AND NEW YORK CIVIL PRACTICE LAW AND RULES § 5447 April 6, 2005
VIA OVERNIGHT DELIVERY
Sempra Energy Europe Limited c/o Sempra Energy Trading Corp. 58 Commerce Road Stamford, CT 06902
Re: Proof of Claim: #25141 in the amount of $9,159,930.27 ("Proof of Claim") Debtor: Enron Corp. ("EC") Creditor: Sempra Energy Europe Limited ("Creditor")
Ladies and Gentlemen:
On December 2, 2001, EC and certain affiliated entities (the "Debtors"), filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code, as amended (the "Bankruptcy Case"), in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). On November 12, 2004, Creditor filed the above-referenced Proof of Claim with the Bankruptcy Court.
Creditor represents by signing below that it (i) was the record holder of the Proof of Claim as of November 29, 2004 and has not transferred, assigned or conveyed any or all of its interest in the Proof of Claim since that date; and (ii) has not been compensated in any way by any other person or entity for services performed, goods supplied or damages suffered and claimed (or eligible for claim) under the Proof of Claim nor has it received payment of any of the claim amount under the Proof of Claim (or any additional amounts eligible for claim) from any other person or entity. Subject to Bankruptcy Court approval of this Letter Agreement, EC and Creditor now agree with respect to the Proof of Claim and the facts, if any, giving rise to the Proof of Claim, that Creditor shall have an allowed unsecured claim in the amount of $9,159,930.27 ("Allowed Claim"). Such Allowed Claim shall be net of any amounts owing by Creditor to EC. The foregoing treatment of the Proof of Claim resolves all issues and disputes with respect to the Proof of Claim and any and all claims and causes of action against EC which Creditor has or may have, and any and all claims and causes of action against Creditor which EC has or may have, arising from or related to any contract or agreement described or referenced in the Proof of Claim or any substantiation thereof. The preceding amount resolves the Proof of Claim and all such causes of action in their entirety. The balance of the Proof of Claim, including, without limitation, any unliquidated, contingent or disputed portions of such balance, shall be disallowed.
EC shall submit this Letter Agreement to the Bankruptcy Court for approval by no later than May 2, 2005. In the event that the Bankruptcy Court has not approved this Letter Agreement by July 15, 2005, it shall be considered null and void.
If this Letter Agreement is acceptable to you, please so indicate by signing the two (2) enclosed originals of this Letter Agreement, retaining one for your files and returning the other executed original by overnight courier (and a copy by facsimile: [713] 646-3490) to the following address:
Mr. Dan Despres Enron Corp. 1221 Lamar, 16th Floor Houston, TX 77010
Should you have any questions about this matter, please do not hesitate to call Tim Neumann at (713) 345-9279.
Sincerely yours,