Opinion
Jointly Administered with Case No. BK-N-01-31627-GWZ.
February 18, 2004
McDONALD CARANO WILSON LLP, Sylvia Harrison, Attorneys for the Plan Committee.
CRAIG H. MILLET, KENNETH A. GLOWACKI, JR., GIBSON, DUNN CRUTCHER LLP, Irvine, CA, Counsel for Flowserve U.S., Inc.
STIPULATION AND ORDER TO WITHDRAW PROOF OF CLAIM BY FLOWSERVE U.S., INC. (CLAIM NO. 5249)
The Plan Committee (the "Committee") in these Chapter 11 Bankruptcy cases of Washington Group International, et al. (the "Debtors" or "WGI") and Flowserve U.S., Inc. ("Flowserve"), by and through their undersigned counsel, hereby stipulate and agree as follows:
WHEREAS, Flowserve filed Claim No. 5249 (the "Flowserve Claim") in the amount of $414,197.50, related to amount it states are outstanding for goods and services provided to the Mystic Project. On March 31, 2003, the Committee filed its Notice of Objection and Objection to these claims ("Objection"), and on June 5, 2003, Flowserve filed its Response and Opposition to the Objection requesting that the remaining Flowserve Claim be allowed in the amount of $266,838.20;
WHEREAS, pursuant to an Order of Stipulation of Settlement entered by the Supreme Court of the State of New York, in the matter of Sithe Fore River Development, LLC, and Sithe Mystic Development, LLC (collectively, "Sithe"), versus Raytheon Company ("Raytheon"), Sithe agreed to take immediate assignment of, and Raytheon agreed to guarantee Sithe's obligations with respect to, certain of WGI's subcontracts and purchase orders, ostensibly including those relating to Flowserve.
WHEREAS, Raytheon and Flowserve have now entered into a settlement agreement that fully and finally resolves the Claim, and
WHEREAS, the terms of the parties' settlement provide for Flowserve to permanently Withdraw its Proof of Claim pending in this Proceeding with prejudice, pursuant to the terms of the settlement;
NOW, THEREFORE, Flowserve and the Committee agree and stipulate as follows:
1. Upon entry by the Court of this Stipulated Order, Flowserve's Claim No. 5249 shall be permanently withdrawn, with prejudice, pursuant to F.R.Bankr.P. 3006. STIPULATED and AGREED:
SO ORDERED.