Opinion
Case No. 01-16034 (AJG) Jointly Administered
May 13, 2003.
Upon the motion dated April 21, 2003 (the "Motion"), of Enron Corp. and certain of its subsidiaries, as debtors and debtors in possession (collectively, the "Debtors"), pursuant to section 1121(d) of title 11, United States Code (the "Bankruptcy Code"), for an order extending the exclusive period for the Debtors to file a chapter 11 plan (the "Exclusive Filing Period") and solicit acceptances thereof (the "Solicitation Period," collectively, with the Exclusive Filing Period, the "Filing and Solicitation Periods"), as more fully set forth in the Motion; and the ENA Examiner having filed the Report of Harrison J. Goldin, The Court-Appointed Examiner in the Enron North America Corp. Bankruptcy Proceeding, Regarding (I) Developments in the Formulation of a Joint Chapter 11 Plan; (II) the Appropriateness of a Further Extension of Exclusivity for ENA; and (III) the Appropriateness of Formulating a Separate Chapter 11 Plan for ENA, dated May 5, 2003 (the "Report"); and certain other creditors and parties in interest having filed certain responses and limited objections to the Motion (collectively, the "Responses"); and the Court having jurisdiction to consider the Motion and the relief sought therein in accordance with 28 U.S.C. § 1334; and due and adequate notice having been provided; and the Court having found that cause exists to extend the Filing and Solicitation Periods and that such extensions are in the best interests of the Debtors, their chapter 11 estates, creditors, and other parties in interest; and upon the Motion, the Report, the Responses and all the proceedings had before the Court; and after due deliberation and sufficient cause appearing therefor, and the Court having rendered its decision on the record, it is hereby
ORDERED that the Motion is granted; and it is further
ORDERED that, pursuant to section 1121(d) of the Bankruptcy Code, the Exclusive Filing Period in which the Debtors may file a chapter 11 plan is extended to and including June 30, 2003 (the "Plan Exclusivity Extension Date"); and it is further
ORDERED that, pursuant to section 1121(d) of the Bankruptcy Code, the Solicitation Period in which the Debtors may solicit acceptance of its chapter 11 plan is extended to and including November 29, 2003; and it is further
ORDERED that the extension of the Exclusive Filing Period shall be the final extension thereof; and it is further
ORDERED that, subject to the execution and delivery by National City Bank, as indenture trustee ("NCB"), of an appropriate confidentiality agreement, the Debtors shall meet with NCB on or before May 23, 2003, or on or before such later date as the Debtors and NCB may mutually agree, to negotiate in good faith the treatment of the claims of creditors of Enron Transportation Services Company ("ETS") under any chapter 11 plan filed in these cases which relates to ETS; and it is further
ORDERED that, in the event the Debtors file a joint chapter 11 plan by the Plan Exclusivity Extension Date and the Debtors (including Enron North America Corp. ("ENA")) seek additional extensions of their solicitation period, the ENA Examiner, as plan facilitator for ENA, shall file a status report within ten (10) days prior to any scheduled hearing in connection with the appropriateness of the Debtors' request for a further extension of the Solicitation Period; and it is further
ORDERED that after the Debtors file their proposed joint chapter 11 plan, the ENA Examiner may file a report concerning, among other things, the fairness of the proposed plan's treatment of ENA creditors; and it is further
ORDERED that the ENA Examiner may request a conference with the Court, the Debtors, the statutory creditors' committee, and the United States Trustee to consider the process to be followed after filing of the Debtors' proposed plan and related issues; and it is further
ORDERED that the requirement under Rule 9013-1(b) of the Local Bankruptcy Rules of the Southern District of New York for the filing of memorandum of law is waived.