Opinion
Case No. 10-35540-NVA
01-30-2012
In re: K CAPITAL CORPORATION, Debtor.
SO ORDERED
FOURTH STIPULATION AND CONSENT ORDER EXTENDING DEADLINE
FOR MANUFACTURERS AND TRADERS TRUST COMPANY TO FILE
PROOF OF CLAIM IN DEBTOR'S BANKRUPTCY CASE
PURSUANT TO FEDERAL RULE OF BANKRUPTCY PROCEDURE 3002
This Fourth Stipulation and Consent Order is entered into by and between Charles R. Goldstein, as Chapter 7 Trustee (the "Trustee") of K Capital Corporation (the "Debtor"), and Manufacturers and Traders Trust Company ("M&T Bank"), as assignee of certain assets of K Bank from the Federal Deposit Insurance Corporation, in its capacity as the receiver for K Bank, pursuant to which the Trustee and M&T Bank stipulate and agree as follows:
A. The Debtor filed its voluntary petition for relief under Chapter 7 of the Bankruptcy Code on November 10, 2010. Charles R. Goldstein is the duly appointed Chapter 7 Trustee in this case.
B. On April 28, 2011, the Trustee filed a Notice of Assets and Request to Set Claims Bar Date pursuant to Section 501 of the Bankruptcy Code and Rule 3002 of the Federal Rules of Bankruptcy Procedure. Thereafter, this Court issued a Notice of Need to File Proof of Claim (the "Claims Notice"). Pursuant to the Claims Notice, creditors were required to file their proof of claim on or before July 28, 2011 (the "Claims Filing Deadline").
C. The Court has previously approved three (3) extensions of the Claims Filing Deadline so that M&T Bank, as the assignee of certain assets of K Bank from the Federal Deposit Insurance Corporation, in its capacity as the receiver for K Bank, may file a proof of claim herein.
D. M&T Bank requires additional time to evaluate and review its potential claims in connection with this case. For that reason, M&T Bank has asked the Trustee to agree to a fourth extension of the Claims Filing Deadline. Counsel for M&T Bank has had discussions with the Trustee and his counsel regarding this request and, based upon those discussions, the Trustee and his counsel have consented to a further extension of the Claims Filing Deadline in favor of M&T Bank.
THEREFORE, by agreement of the parties, and this Court being satisfied that good cause has been shown for the entry of this Stipulation and Consent Order and that the relief requested herein is in the best interest of creditors and the Debtor's estate, it is, by the United States Bankruptcy Court for the District of Maryland, hereby ORDERED that:
1. The deadline for M&T Bank to file its proof(s) of claim in the Debtor's bankruptcy case is hereby extended through and including March 30, 2012. This extension is without prejudice to further written extensions as may be agreed upon by M&T Bank and the Trustee.
2. This Court shall retain jurisdiction with respect to any matters, claims, rights or disputes arising from or related to the implementation of this Order.
CONSENTED AND AGREED TO:
By: _______________
Alan M. Grochal
Tydings & Rosenberg LLP
Attorneys for Charles R. Goldstein, Chapter 7 Trustee
By: _______________
Jason W. Hardman
Gebhardt & Smith LLP
Attorneys for Manufacturers and Traders Trust Company
Certification Pursuant to Admin. Order 03-02, Ex. A, Sec.V.B.1
I HEREBY CERTIFY that the terms of the copy of this Stipulation and Consent Order submitted to the Court are identical to those set forth in the original Stipulation and Consent Order; and the signatures represented by the /s/ on this copy reference the signatures of consenting parties on the original consent order.
_______________
Jason W. Hardman