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.