Opinion
Case No. 10-35540-NVA
2012-07-03
In re: K CAPITAL CORPORATION, Debtor.
Alan M. Grochal Tydings & Rosenberg LLP Attorneys for Charles R. Goldstein, Chapter 7 Trustee Jason W. Hardman GEBHARDT & SMITH LLP Attorneys for Manufacturers and Traders Trust Company
SO ORDERED
_________________
U. S. BANKRUPTCY JUDGE
(Chapter 7)
SIXTH STIPULATION AND CONSENT ORDER EXTENDING
DEADLINE FOR MANUFACTURERS AND TRADERS TRUST COMPANY
TO FILE CLAIMS IN DEBTOR'S BANKRUPTCY CASE
PURSUANT TO FEDERAL RULE OF BANKRUPTCY PROCEDURE 3002
This Sixth 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, assignee of the Federal Deposit Insurance Corporation, in its capacity as the Receiver for K Bank ("M&T 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.
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") to all creditors in this case. 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. To date, this Court has approved five (5) extensions of the Claims Filing Deadline in favor of M&T Bank.
D. M&T Bank is still in the process of evaluating and reviewing its potential claims in connection with this case. For that reason, M&T Bank has asked the Trustee to agree to a sixth extension of the Claims Filing Deadline.
E. Counsel for M&T Bank recently discussed this request with the Trustee and his counsel 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 pursuant to this Stipulation and Consent Order.
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:
1. The deadline for M&T Bank to file claims in the Debtor's bankruptcy case is hereby extended to and until September 30, 2012.
2. This extension is without prejudice to further written extensions as may be agreed upon by M&T Bank and the Trustee.
3. 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.
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Jason W. Hardman