Opinion
Case No. 01-31609-11
August 26, 2002
ORDER
This matter came before the Court on the Stipulation entered into on August 22, 2002, between Debtor, Jore Corporation and Boris Gusev and Nadezhda M. Guseva to allow the rejection of that certain Asset Sale and Purchase Agreement dated November 28, 2000 (the "Agreement") pursuant to 11 U.S.C. § 365(a). The Court notes that Debtor's April 5, 2002 Amended Motion to Assume and Assign Executory Contracts, as further amended by the Amended Exhibits thereto filed on April 23, 2002, did not include the Agreement between Debtor and Gusev and Guseva among those Agreements to be assumed and assigned. Additionally, Jore Corporation, the purchaser of the Debtor's assets has stipulated and consented to the rejection the Asset Sale and Purchase Agreement pursuant to § 365(a). The Stipulation appears to be fair and equitable to the parties thereto.
Therefore, pursuant to 11 U.S.C. § 365(a) and the Stipulation of the parties,
IT IS HEREBY ORDERED that the Stipulation is APPROVED and Asset Sale and Purchase Agreement entered November 28, 2000 by and between Debtor and Boris Gusev and Nadezhda M. Guseva is hereby deemed rejected pursuant to 11 U.S.C. § 356(a); IT IS FURTHER ORDERED that any and all claims that Boris Gusev or Nadezhda M. Guseva, individually or collectively, may have against the Debtor, including but not limited to all prepetition claims, all post petition, claims and all claims arising under § 365(g) from the rejection of the Agreement, are hereby deemed irrevocably waived, satisfied in full and withdrawn; and
IT IS FURTHER ORDERED that title to all assets that were the subject of the Agreement is hereby vested in the Gusevs, and that the Gusevs are hereby authorized to market, transfer and otherwise assign to other parties all right, title and interest in the assets provided for under the Asset Sale and Purchase Agreement; and
IT IS FURTHER ORDERED that any party in interest shall have ten (10) days from the date of this Order to file an objection to the stipulation and file a notice of hearing.