In re Worldcom, Inc.

Full title: In re WORLDCOM, INC., et al., Chapter 11, Debtors

Court: United States Bankruptcy Court, S.D. New York

Date published: Jul 21, 2003

Case No. 02-13533 (AJG), (Jointly Administered) (Bankr. S.D.N.Y. Jul. 21, 2003)

Opinion

Case No. 02-13533 (AJG), (Jointly Administered).

July 21, 2003.

Mark A. Shaiken, Esq., Mark S. Carder, Esq., Stinson Morrison Hecker LLP, Kansas City, MO, Attorneys for Debtors and Debtors in Possession.

STIPULATION AND ORDER RESOLVING DEBTORS' NINTH OMNIBUS OBJECTION AS IT RELATES TO CLAIM NUMBER 4950

ARTHUR GONZALEZ, Bankruptcy Judge

WHEREAS, the debtors, in their Ninth Omnibus Objection to Accounts Payable (General) Related Claims dated May 22, 2003 (the "Objection"), seek to disallow and expunge Claim No. 4950 (the "Filed Claim") filed against MCI WorldCom Communications, Inc, Case No. 02-42223(AJG) (the "Debtor"), on the grounds that: (i) there was insufficient documentation attached to the Claim; (ii) the Claim does not qualify for priority treatment under Bankruptcy Code Section 507(a); (iii) the goods and/or services claimed were not provided; (iv) the Claim was not timely filed; and (v) the Claim is for an amount for which the Debtor disputes it owes;

WHEREAS, Melillo Consulting, Inc. ("Melillo") filed the unsecured priority Filed Claim on December 10, 2002, in the amount of $328,943.82; and

WHEREAS, the Debtor's schedule F-1 lists a fully liquidated, non-contingent, undisputed claim for Melillo in the amount of $244,137 (the "Scheduled Claim") from Melillo; and

WHEREAS, Longacre Master Fund, Ltd. ("Longacre") purchased from Melillo the Scheduled Claim and all rights thereto including the Filed Claim and is the owner of the Scheduled Claim and all rights thereto.

WHEREAS, the Debtor and Longacre both agree that Longacre has an unsecured, fully liquidated, non-contingent, undisputed claim against the Debtor in the amount of $244,137.

NOW, THEREFORE, the Debtor and Longacre desire to resolve the Objection without unnecessary litigation and thus have agreed to resolve the Objection on the following terms and conditions:

AGREEMENT:

1 The Filed Claim was timely filed against the Debtor and the Debtor will not therefor continue to object to the Filed Claim on the basis thereof.

2 Upon Bankruptcy Court approval of this stipulation and order, the Filed Claim (claim no. 4950) will be deemed allowed as an unsecured, non-priority claim against the Debtor in the amount of $244,170 and such allowed claim will be fully liquidated, non-contingent and undisputed.

SO ORDERED.