Opinion
Jointly Administered Under No. 04-00757-W11, [Docket # 1955].
March 22, 2005
MICHAEL J. PAUKERT PAINE, HAMBLEN, COFFIN, BROOKE MILLER LLP Spokane, WA, Attorneys for Scawest Investment Associates, L.L.C.
ORDER APPROVING SEAWEST'S APPLICATION FOR BREAK-UP FEE AND DIRECTING PAYMENT THEREOF [Docket # 1955]
THIS MATTER came before the Court on the Application by Seawest Investment Associates, LLC for the payment of the break-up fee (Docket # 1955). Objections to the Application were filed by the Summit Unsecured Creditor's Committee, through its attorneys, Southwell O'Rourke, P.S. and NW Properties, LLC, through its attorneys Layman, Layman, McKinley Robinson, PLLP. Both Objections have been resolved as indicated by the signatures of counsel for the objecting parties below. The Court having considered the Application, together with all other relevant documents on file herein, finds that the $50,000 costs and fees incurred by Seawest as described in the Application are reasonable and necessary and provided a benefit to the estate. Therefore, the Court concludes that the Application should be approved. Based upon the foregoing, it is
ORDERED that the Application by Seawest Investment Associates, LLC for payment of break-up fee is approved in the amount of $50,000.
IT IS FURTHER ORDERED that said break-up fee shall be immediately paid to Seawest Investment Associates, LLC and that the balance of any funds held on deposit for payment of such break-up fee shall be returned to NW Properties, LLC. Upon receipt of payment of the break-up fee, Seawest shall have no further claims against the bankruptcy estate.