Opinion
Case No. 05-41108-399, Jointly Administered Under, Motion No. 467.
April 26, 2005
ORDER GRANTING MOTION FOR ORDER AUTHORIZING ASSUMPTION OF CONTRACT WITH LEWIS R. FEINBERG PURSUANT TO 11 U.S.C. § 365(a)
The Court, having considered the "Motion For Order Authorizing Assumption Of Contract With Lewis R. Feinberg Pursuant To 11 U.S.C. § 365(a)" (the "Motion") filed by the Debtors, the Affidavit of Neal R. Restivo (the "Restivo Affidavit") submitted in support thereof, finds that:
Terms not otherwise defined herein shall have the same meaning ascribed to them in the Application.
(i). notice of the Motion was appropriate under the circumstances;
(ii). no opposition to the Motion was filed; and
(iii) the assumption of the purchase agreement and related documents (collectively referred to herein as the "Contract") entered into between Falcon Products, Inc. ("Falcon") and Lewis R. Feinberg ("Feinberg") will benefit the estates and is a sound exercise of the Debtors' business judgment.
IT IS HEREBY ORDERED that:
1. The Motion is granted as set forth below and as reflected in the record of the hearing.
2. Pursuant to 11 U.S.C. § 365 and Federal Rule of Bankruptcy Procedure 6006, the assumption of the Contract is approved.
3. Specifically, Feinberg must pay $100,000 to Falcon, and Falcon must deliver to Feinberg all Intellectual Property and Business Records set forth in the Contract that have not yet been provided to Feinberg.
4. Upon Feinberg's receipt of the customer lists set forth in the Contract, Feinberg must pay an additional $17,714.69 to Falcon.
5. No later than three (3) business days after the date of this order, the Debtors are directed to serve a copy of the order in accordance with the Court's order establishing notice procedures and are directed to file a certificate of service no later than two (2) business days after service.