In re Kmart Corporation

United States Bankruptcy Court, N.D. Illinois, Eastern DivisionJul 9, 2004
Case No. 02-B02474 Jointly Administered. (Bankr. N.D. Ill. Jul. 9, 2004)

Case No. 02-B02474 Jointly Administered.

July 9, 2004


AGREED ORDER RESOLVING CLAIMS FOR KMART STORE NUMBER 261 N/K/A 6735


Upon consideration of the claims (collectively the "Claims") filed by Mary E. Howard, Mazie E. McNeal, Jack Olden, Fred Poland, Albert Bingaman and Earl Noll, III, (collectively the "Claimants"); under the Leases of the property described as Kmart Store Number 261 n/k/a 6735, Danville, Illinois; and Kmart Corporation ("Kmart") having filed objections to the Claims; and the Court being advised that Claimant and Kmart have resolved the Claims; and after due deliberation and sufficient cause appearing therefore, it is hereby

ORDERED that Claimants shall have an Allowed Class 5 Lease Rejection Claim in the aggregated agreed amount of $250,000.00, which shall be satisfied in accordance with the terms of Kmart's confirmed plan of reorganization; and it is further

ORDERED that the distributions to be made on account of the Allowed Class 5 Rejection Claim pursuant to the terms of Kmart's plan of reorganization shall be made to the parties listed on attached Exhibit "A" in accordance with the "Ownership Share" as shown; and it is further

ORDERED that all notices and other communications regarding the stock distributions or otherwise pertaining to or relating to this Order or the implementation thereof shall be sent to Andre Zafrani, Esquire, Greenberg, Traurig, 77 West Wacker Drive, Suite 2400, Chicago, Illinois 60601; and it is further

ORDERED that upon entry of this Order, the Claims of Mary E. Howard, Mazie E. McNeal, Jack Olden, Fred Poland, Albert Bingaman and Earl Noll, III, arising out of the lease of Store 261 n/k/a 6735, Danville, Illinois, shall be deemed satisfied in their entirety; and it is further

ORDERED that Mary E. Howard, Mazie E. McNeal, Jack Olden, Fred Poland, Albert Bingaman and Earl Noll, III, and their respective successors, assigns or designees and all other persons are forever barred from asserting, collecting, or seeking to collect any amounts with respect to Kmart Store Number 261 n/k/a 6735

EXHIBIT "A" TO AGREED ORDER RESOLVING CLAIMS FOR KMART STORE NUMBER 261 N/K/A 6735

Claimant Ownership Share

Earl Noll III 3/24 Fred M. Poland 2/24 Mazie McNeal 3/24 John Olden 4/24 Mary E. Howard 2/24 Albert Bingaman 10/24