Opinion
Case No. 07-21814-JS.
July 2, 2008
Richard M. Goldberg, Bar No. 07994, Shapiro Sher Guinot Sandler, Baltimore, Maryland, Attorneys for Fieldstone Mortgage Company.
Brooke E. Carey, Bar No. 27460, Jonathan D. Forstot, Christopher A. Lynch, Thacher Proffitt Wood LLP, New York, New York, Attorneys for Citibank, N.A..
STIPULATION AND CONSENT ORDER ESTIMATING AMOUNT OF CLAIM NOS. 335, 336, 337 AND 338 FOR VOTING PURPOSES ONLY
Fieldstone Mortgage Company, Debtor and Debtor in Possession ("Fieldstone" or the "Debtor"), and Citibank, N.A. ("Citi"), hereby stipulate and consent as follows:
WHEREAS, Citi timely filed certain proofs of claim (i) solely in its capacity as Trustee on behalf of Merrill Lynch Mortgage Investors Trust, Series 2006-HE5 (Claim Nos. 335, 336 and 337); and (ii) solely in its capacity as Indenture Trustee for the benefit of the holders of Merrill Lynch Mortgage Investors Trust, Series 2006-SL2 notes (Claim No. 338) (Claims Nos. 335, 336, 337 and 338 shall be collectively referred to as the "Citi Claims"); and
WHEREAS, on June 9, 2008, Fieldstone filed its Omnibus Objection to Certain Repurchase and Related Claims (the "Objection") [Docket No. 604], objecting to inter alia the Citi Claims; and
WHEREAS, the ballots for the Debtor's Plan of Reorganization (the "Plan") must be received by counsel for the Debtor on or before July 3, 2008 at 4:00 p.m.; and
WHEREAS, in order for Citi to cast its ballots for the Plan, the Parties wish to estimate the amount of the Citi Claims for voting purposes only (in the case of claims concerning Merrill Lynch Mortgage Investors Trust, Series 2006-HE5, the "Citi 2006-HE5 Estimated Claim"; and in the case of claim concerning Merrill Lynch Mortgage Investors Trust, Series 2006-SL2, the "Citi 2006-SL2 Estimated Claim"); and
WHEREAS, by separate stipulation the Debtor and Citi have agreed to an extension of at least 60 days through and including September 8, 2008, for Citi to respond to the Objection.
IT IS NOW, THEREFORE, STIPULATED AND CONSENTED AS FOLLOWS:
1. The Citi 2006-HE5 Estimated Claim shall be estimated for purposes of voting on the Debtor's plan in the amount of $16,797,561.08.
2. The Citi 2006-SL2 Estimated Claim shall be estimated for purposes of voting on the Debtor's plan in the amount of $6,573,011.72.
3. These estimations, under Fed.R.Bank.P. 3018(a), are solely for purposes of voting for the Plan and are not binding, relevant or admissible for any other purpose.SO ORDERED.