In re Wade Cook Financial Corporation

Full title: In re WADE COOK FINANCIAL CORPORATION; THE STOCK MARKET INSTITUTE OF…

Court: United States Bankruptcy Court, W.D. Washington, at Seattle

Date published: Apr 14, 2005

No. 02-25434-TTG (Bankr. W.D. Wash. Apr. 14, 2005)

Opinion

No. 02-25434-TTG.

April 14, 2005

Christopher M. Alston, WSBA No. 18823, Courtney M. Anderson, WSBA No. 34376, FOSTER, PEPPER SHEFELMAN PLLC., Attorneys for Trustee Diana K. Carey.

ORDER APPROVING COMPROMISE BETWEEN THE TRUSTEE AND BUNZL UTAH, LLC; ORDER ALLOWING AND AUTHORIZING PAYMENT OF ADMINISTRATIVE CLAIM OF BUNZL UTAH, LLC; AND ORDER ALLOWING AND AUTHORIZING PAYMENT OF GAP CLAIM OF BUNZL UTAH, LLC.

THOMAS GLOVER, Chief Judge, Bankruptcy

THIS MATTER came on before the Court on notice and hearing upon the motion of Diana K. Carey, chapter 11 trustee for the jointly administered estates of the above named Debtors ("Trustee"), for 1) an order approving the Compromise Agreement ("Compromise") between she and Bunzl Utah, LLC ("Bunzl"), the successor in interest to Papercraft, LLC, pursuant to 11 U.S.C. § 704, Fed.R.Bankr.P. 9019, LR 9013-1(b)(6) and LR 9019-1; 2) an order allowing and authorizing payment of the "gap" claim of Bunzl pursuant to 11 U.S.C. §§ 502(f) and 507(a)(2) in the amount of $12,643.80; and 3) an order allowing and authorizing payment of the administrative claim of Bunzl pursuant to 11 U.S.C. §§ 503(b) and 507(a)(1) in the amount of $3,371.68. A hearing to consider these motions was held, and the Court, having reviewed the records and files herein, having heard the argument of counsel, and good cause having been shown, hereby finds as follows:

1. The unsecured claims of Bunzl arose in the ordinary course of the debtors' business or financial affairs after the commencement of the case.

2. The unsecured claims of Bunzl are allowable claims under 11 U.S.C. §§ 502(f) and 503(b).

3. Notice to all creditors and parties in interest was proper, and no further notice is required.

Therefore, it is now hereby

ORDERED that the administrative claim of Bunzl, in the amount of $3,371.68, shall be and is hereby allowed as a claim under 11 U.S.C. § 507(a)(1); it is further

ORDERED that the "gap" claim of Bunzl, in the amount of $12,643.80, shall be and is hereby allowed as a claim under 11 U.S.C. § 507(a)(2); it is further

ORDERED that the Trustee shall pay to Bunzl the above amounts from the unencumbered funds of the estate; it is further

ORDERED that any other claim that Bunzl could assert as either an administrative claim or a "gap" claim shall be and hereby is disallowed; and it is further

ORDERED that any claim that the Trustee could assert under 11 U.S.C. § 547 against Bunzl shall be and hereby is deemed waived and released by the Trustee.