Opinion
Case No. 02-13533 (AJG), (Jointly Administered).
May 28, 2003.
Upon the motion, dated May 2, 2003 (the "Motion"), of WorldCom, Inc. and certain of its direct and indirect subsidiaries, as debtors and debtors in possession (collectively, the "Debtors"), for an order, pursuant to Rule 9109 of the Federal Rules of Bankruptcy Procedure (the "Bankruptcy Rules"), approving the Agreement for the Additional Services, Security, and Settlement of Certain Matters, as amended by Addendum No. 1, dated as of April 15, 2003 (as amended the "Settlement Agreement") between WorldCom, Inc., on behalf of itself and all of its affiliates and subsidiaries and Allegiance Telecom, Inc., on behalf of itself and all of its affiliates and subsidiaries ("Allegiance"), all as more fully set forth in the Settlement Agreement; and the Court having jurisdiction to consider the Motion and the relief requested therein pursuant to 28 U.S.C. § 157 and 1334; and consideration of the Motion and the relief requested therein being a core proceeding pursuant to 28 U.S.C. § 157(b); and venue being proper before this Court pursuant to 28 U.S.C. § 1408 and 1409; and due and proper notice of the Motion having been provided, and it appearing that no other or further notice need be provided; and the relief requested in the Motion being in the best interests of the Debtors and their estates and creditors; and the Court having reviewed the Motion and having heard the statements in support of the relief requested therein at a hearing before the Court (the "Hearing"); and the Court having determined that the legal and factual bases set forth in the Motion and at the Hearing establish just cause for the relief granted herein; and upon all of the proceedings had before the Court and after due deliberation and sufficient cause appearing therefor, it is
ORDERED that the Motion is granted; and it is further
ORDERED that the Settlement Agreement is approved pursuant to Bankruptcy Rule 9019; and it is further
ORDERED that the Settlement Agreement was entered into following good faith, arm's-length negotiations between WorldCom and Allegiance and the compromise and settlement reflected in the Settlement Agreement is in the best interests of the Debtors, their creditors and all other parties in interest; and it is further
ORDERED that the Debtors and Allegiance are authorized and directed to execute, deliver, implement, and fully perform any and all obligations, instruments, documents and papers and to take any and all actions reasonably necessary or appropriate to consummate and fully effectuate the Settlement Agreement; and it is further
ORDERED that the requirement under Rule 9013-1(b) of the Local Bankruptcy Rules for the Southern District of New York for the filing of a memorandum of law is waived.