Opinion
Case No. 12-11820-RAG
2012-05-02
In re: NAUTICA LAKES, INC., Debtor. NAUTICA LAKES, INC., Plaintiff, v. D.S.C. OF NEWARK ENTERPRISES, INC., Defendant.
Stephen B. Gerald, Bar No. 26590 Whiteford, Taylor & Preston L.L.P. Counsel for D.S.C. of Newark Enterprises, Inc. Alan M. Grochal, Bar No. 01447 Tydings & Rosenberg LLP Counsel for the Debtor
SO ORDERED
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U. S. BANKRUPTCY JUDGE
(Chapter 11)
Adv. Pro. No. 12-00259-RAG
STIPULATION AND CONSENT ORDER STAYING LITIGATION AND
PROCEEDINGS RELATING TO (I) DEBTOR'S MOTION FOR AUTHORITY TO
REJECT EXECUTORY POST CLOSING AGREEMENT/MEMORANDUM; AND (II)
ADVERSARY PROCEEDING NO. 12-00259
D.S.C. of Newark Enterprises, Inc., a creditor and party-in-interest in the above-captioned bankruptcy case ("D.S.C."), and Nautica Lakes, Inc., the above-captioned debtor and debtor-in-possession ("Nautica Lakes" or the "Debtor," and together with D.S.C., the "Parties"), by their respective counsel, hereby stipulate and agree as follows:
WHEREAS, on February 2, 2012, Nautica Lakes filed a petition for relief under Chapter 11 of Title 11 of the United States Code, 11 U.S.C. §§ 101 et seq., commencing the above-captioned Chapter 11 case;
WHEREAS, on March 13, 2012, D.S.C. filed its Motion to Dismiss Chapter 11 Case [Dkt. No. 28] (the "Motion to Dismiss");
WHEREAS, on April 13, 2012, the Debtor filed its Opposition to Motion of D.S.C. of Newark Enterprises, Inc. to Dismiss Chapter 11 Case [Dkt. No. 33] (the "Opposition");
WHEREAS, on April 13, 2012, the Debtor filed its Motion for Authority to Reject Executory Post Closing Agreement/Memorandum [Dkt. No. 34] (the "Motion to Reject");
WHEREAS, on April 13, 2012, the Debtor filed a Complaint for Declaratory Relief against D.S.C. (the "Complaint"), commencing Adversary Proceeding No. 12-00259 (the "Adversary Proceeding");
WHEREAS, on April 23, 2012, the Court scheduled a hearing on the Motion to Dismiss and the Opposition thereto for May 15, 2012 at 10:00 a.m.;
WHEREAS, the Parties have agreed to stay any and all litigation and proceedings relating to the Motion to Reject and the Adversary Proceeding, pending the Court's full adjudication ofthe Motion to Dismiss.
NOW, THEREFORE, it is, by the United States Bankruptcy Court for the District of Maryland,
ORDERED, that any and all litigation and proceedings relating the Motion to Reject and the Adversary Proceeding is hereby stayed, pending the Court's full adjudication of the Motion to Dismiss; and it is further
ORDERED, that if the Court denies the Motion to Dismiss, D.S.C. shall have fourteen (14) days from such denial to file pleading responsive to the Motion to Reject and the Complaint.
CONSENTED TO:
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Stephen B. Gerald, Bar No. 26590
Whiteford, Taylor & Preston L.L.P.
Counsel for D.S.C. of Newark
Enterprises, Inc.
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Alan M. Grochal, Bar No. 01447
Tydings & Rosenberg LLP
Counsel for the Debtor
END OF ORDER
cc: Stephen B. Gerald, Esq.
Whiteford, Taylor & Preston L.L.P.
Alan M. Grochal, Esq.
Tydings & Rosenberg LLP
Edmund A. Goldberg, Esq.
Office of the United States Trustee
CERTIFICATION OF COUNSEL
I hereby certify that the terms of the copy of the foregoing Stipulation and Consent Order submitted to the Court are identical to those set forth in the original Stipulation and Consent Order; and the signatures represented by the on this copy reference the signatures of consenting parties on the original Stipulation and Consent Order.
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Stephen B. Gerald