In re Service Merchandise Company, Inc.

Full title: In re: SERVICE MERCHANDISE COMPANY, INC., et al., Chapter 11 Debtors

Court: United States Bankruptcy Court, M.D. Tennessee, Nashville Division

Date published: Apr 8, 2004

Case No. 399-02649 (Bankr. M.D. Tenn. Apr. 8, 2004)

Opinion

Case No. 399-02649.

April 8, 2004

Paul G. Jennings, Phillip G. Young, Jr., BASS, BERRY SIMS PLC, Nashville, TN, and Patrick Nash, Esq., SKADDEN, ARPS, SLATE, MEAGHER FLOM (ILLINOIS), Chicago, IL, Attorneys for Debtors and Debtors-in-Possession.

Edwin M. Walker, Esq. Garfinkle, McLemore Walker, PLLC, Nashville, TN, Attorney for the Claimant.

AGREED ORDER RESOLVING CONTESTED CLAIM NO. 2666 FILED BY STERLING SPORTS, INC.

GEORGE PAINE, Chief Judge, Bankruptcy

Upon the Motion (the "Motion"), filed by Service Merchandise Company, Inc. ("Service Merchandise") and 31 of its affiliates (the "Affiliate Debtors) (Service Merchandise and the Affiliate Debtors collectively, the "Debtors") to approve the compromise and settlement of Claim No. 2666 (the "Claim") filed by Sterling Sports, Inc. (the "Claimant"); and the Debtors and the Claimant having agreed, as signified by the signatures of counsel below, to a resolution of the disputes related to the Claim on the terms set forth in this Agreed Order; and no further notice of the Motion being required under the Order Approving Procedures for the Compromising Disputed, Reconciling and Allowing of Claims and Granting Related Relief (Docket No. 5860) (the "Claims Settlement 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 allowed general prepetition non-priority unsecured claim in the amount of $50,000.00 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 Claimant shall have no other claims, whether secured, unsecured, prepetition, postpetition, administrative, priority or otherwise against the Debtors or their estates.