Opinion
No. 399-02649, Jointly Administered, Adv.Proc. No. 301-1069A
February 27, 2003
Wally W. Dietz, Esq., Paul G. Jennings, Esq., Beth A. Dunning, Esq., Bass, Berry Sims PLC, Nashville, TN, and Charles F. Smith, Esq., Van C. Durrer, II, Esq., Skadden, Arps, Slate, Meagher Flom (Illinois), Chicago, IL, Attorneys for Debtors and Debtors in Possession.
Roger D. Baskette, Jr. Law Office of Roger D. Baskette, Jr., Nashville, TN, and David Ledman, Law Office of David Ledman, Willoughby, OH, Attorneys for the Defendant.
AGREED ORDER OF SETTLEMENT AND DISMISSAL
Upon the agreement of the parties that this adversary proceeding has been resolved and should be dismissed, the Court FINDS, ADJUDGES AND DECREES:
A. Prior to March 14, 2001, the Plaintiffs, Service Merchandise Company, Inc. ("Service Merchandise") and 31 of its affiliates (the "Affiliate Debtors"; collectively, with Service Merchandise, the "Plaintiffs"), initiated the above-captioned adversary proceeding by filing their Complaint to Avoid Preferential Transfers and to Recover Amount of Such Transfers (the "Complaint") against the defendant, Park Place Enterprises, Ltd. (the "Defendant").
B. The Debtors and the Defendant have reached a settlement and agreed resolution (the "Settlement") of the subject matter of the Complaint and any and all factual and legal issues raised therein.
C. Pursuant to the Settlement, the Defendant has paid the Debtors the principal amount of $2,900.00
D. In consideration of the Defendant's payment of the principal amount of $2,900.00, the Debtors have agreed to dismiss the Complaint with prejudice, each party to bear Its own costs.
NOW, THEREFORE, IT IS HEREBY ORDERED:
1. The Complaint shall be and hereby is dismissed, with prejudice, each party bearing its own costs.
2. The Court shall retain jurisdiction to hear any matters or disputes arising from or relating to the Agreed Order of Dismissal.