Opinion
Case No. 00-34533, Jointly Administered
October 30, 2003
Bruce H. Matson, Esquire, Troy Savenko, Esquire, Katherine Macaulay Mueller, LeCLAIR RYAN, A Professional Corporation, Richmond, Virginia, Counsel for the Debtors
Dennis T. Lewandowski, Esquire, Kaufman Canoles, A Professional Corporation, Norfolk, Virginia, Counsel for Commons at Willowbrook, Inc.
Joseph O. Slovacek, Esquire, Patrick D. Sullivan, Esquire, Hoover Slovacek, LLP, Houston, Texas, Counsel for Commons at Willowbrook, Inc.
ORDER AUTHORIZING HMY ROOMSTORE, INC. TO ENTER INTO A NON-RESIDENTIAL REAL PROPERTY LEASE
This matter came before the Court on the Debtors' Motion And Memorandum Of Law In Support Thereof To Authorize HMY RoomStore, Inc. To Enter Into A Non-Residential Real Property Lease (the "Motion"), filed by the above-captioned debtors and debtors-in-possession (collectively the "Debtors"). The Commons at Willowbrook, Inc. ("Commons") filed an objection to the Motion (the "Commons Objection"). The Court conducted a hearing on the Motion on October 22, 2003 (the "Hearing"), at which time the Court determined it was necessary to conduct an evidentiary hearing. Commons has now agreed to withdraw the Commons Objection as evidenced by its endorsement of this Order. Therefore, upon a review of the Motion and the comments of counsel in open court, the Court has determined that: notice of the Motion was proper and sufficient under the circumstances and that no further notice need be given; that the relief requested in the Motion is in the best interests of the Debtors, their estates, their creditors and other parties in interest. Accordingly, the Court makes the following findings of fact:
A. The addition of the Spring, Texas store location is necessary to the effective reorganization of the RoomStore and the Debtors.
B. The terms set forth in the Lease attached to the Motion asExhibit A are fair and reasonable under current market conditions and have been negotiated at arm's length and in good faith.
C. The Debtors' execution of the Lease is proposed in good faith, supported by the Debtors' sound business judgment, and in the best interests of the Debtors, their creditors, and the Debtors' estates.
D. The Debtors have provided adequate notice of the Motion under the circumstances and no further notice is necessary.
Based upon the foregoing, it is hereby ORDERED that:
1. The Commons Objection is withdrawn and the Motion is granted;
2. Capitalized terms not defined herein shall have the meaning ascribed to them in the Motion;
3. RoomStore is hereby authorized and empowered to take such action as is necessary or advisable to execute the Lease and the transactions contemplated thereby; and
4. Upon entry, the Clerk shall serve a copy of this Order to those parties on the attached Service List.
RULE 9022-1 CERTIFICATION
Pursuant to LBR 9022-1, I hereby certify that a true copy of the foregoing has been endorsed by or served upon all necessary parties.
/s/Troy Savenko _______________ Counsel