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In re Kmart Corporation

United States District Court, N.D. Illinois
Oct 8, 2003
Case No. 02-B02474, Jointly Administered (N.D. Ill. Oct. 8, 2003)

Opinion

Case No. 02-B02474, Jointly Administered

October 8, 2003


AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR KMART STORE NOS. 4834 AND 9700


Upon consideration of the lease rejection claims (each a "Lease Rejection Claim") filed by 2020 Stringtown Road LLC and Caprcalty-01 Edinburg, LLC, landlords under the Leases of the properties described as Store Nos. 4834 and 9700 respectively and Kmart Corporation ("Kmart") having filed an objection to the Lease Rejection Claims; and the Court being advised that landlords and Kmart have resolved the Lease Rejection Claims; and after due deliberation and sufficient cause appearing therefore, it is hereby

ORDERED that Caprcalty-01 Edinburg LLC ("Caprealty") shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $400,000 which shall be satisfied in accordance with the terms of Kmart's confirmed plan of reorganization; and it is further

ORDERED that 2020 Stringtown Road LLC ("Stringtown") shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $1,000,000 which shall be satisfied in accordance with the terms of Kmart's confirmed plan of reorganization; and it is further

ORDERED that the first distribution to be made on account of the Allowed Class 5 Rejection Claim shall he made at the next Distribution Date pursuant to the terms of Kmart's plan of reorganization; and it is further

ORDERED that Caprealty and Edinburg, and each of their successors, assigns or designees, are forever barred from asserting collecting, or seeking to collect any lease rejection or administrative expense amount in addition to the amounts set forth herein with respect to the Lease relating to Kmart Store Nos. 4834 and 9700.


Summaries of

In re Kmart Corporation

United States District Court, N.D. Illinois
Oct 8, 2003
Case No. 02-B02474, Jointly Administered (N.D. Ill. Oct. 8, 2003)
Case details for

In re Kmart Corporation

Case Details

Full title:In re: KMART CORPORATION, et al., Chapter 11, Debtors

Court:United States District Court, N.D. Illinois

Date published: Oct 8, 2003

Citations

Case No. 02-B02474, Jointly Administered (N.D. Ill. Oct. 8, 2003)