Opinion
Case No. 399-02649, Jointly Administered
January 13, 2004
Upon Service Merchandise Company, Inc. ("Service Merchandise") and 31 of its affiliates (collectively, the "Reorganized Debtors") and Fidelity and Deposit Company of America (a/k/a NCM America) and Liquidity Solutions, Inc. (d/b/a Capital Markets) (the "Co-Claimants") having agreed, as signified by the signatures of counsel or other duly authorized representatives below, to a resolution of Claim No. 1344 (the "Claim") on the terms set forth in the Agreed Order; and the court being otherwise sufficiently advised, it is hereby
ORDERED, ADJUDGED AND DECREED:
1. The claim shall be and hereby is ALLOWED as an allowed general prepetition non-priority unsecured claim in the aggregate amount of $725,000.00 (the "Allowed Amount") against Service Merchandise Company, Inc. in Case No. 399-02649.
2. The claim shall be and hereby is DISALLOWED to the extent it exceeds the allowed amount.
3. All distributions on account of the claim allowed by this Order are governed by the terms of the Debtor's confirmed chapter 11 plan, and any other actions to collect or enforce the claim allowed in the Order and/or any other claims against the Debtors or against the assets of the Debtors or any affiliate or insider of the Debtors are prohibited by the plan and confirmation order entered May 13, 2003.
4. The Co-Claimants have resolved their dispute such that the portion of Claim 1344 that was Assigned and is now owned by Liquidity Solutions, Inc. shall be set at $725,000.00 and the portion of the Claim retained by Fidelity and Deposit Company of America shall be set at $0.00.
5. The Co-Claimants shall have no other claims, whether secured, unsecured, prepetition, postpetition, administrative, priority or otherwise against the Debtors or their estates with respect to claim No. 1344 originally filed by Fidelity and Deposit Company of America and subsequently partially (and now completely) assigned to Liquidity Solutions, Inc.