HTML Document View

Full title: Order Authorizing and Approving That Certain Settlement Agreement By and Between Klausner Lumber One LLC and Klausner Lumber Two LLC (related document(s)868) Signed on 8/12/2021 (Mml) (Entered: 08/12/2021)

Document posted on Aug 11, 2021 in the bankruptcy, 3 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

KLAUSNER LUMBER TWO LLC, Case No. 20-11518 (KBO) Debtor.2 ORDER PURSUANT TO BANKRUPTCY RULE 9019, LOCAL RULE 9013-1 AND 11 U.S.C. §§ 105(A) AND 363(B) AUTHORIZING AND APPROVING THAT CERTAIN SETTLEMENT AGREEMENT BY AND BETWEEN KLAUSNER LUMBER ONE LLC AND KLAUSNER LUMBER TWO LLC Upon the Joint Motion of the Debtors and Official Committees of Unsecured Creditors Pursuant to Bankruptcy Rule 9019, Local Rule 9013-1 and 11 U.S.C. §§ 105(a) and 363(b), for Entry of an Order Authorizing and Approving that Certain Settlement Agreement by and between Klausner Lumber One LLC and Klausner LumberTwo LLC (the “Motion”),3 and this Court having jurisdiction to consider the Motion and the relief requested therein in accordance with 28 U.S.C. §§ 157 and 1334 and the Amended Standing Order of Reference from the United States District Court for the District of 1Delaware, dated as of February 29, 2012; and consideration of the Motion and the relief requested therein being a core proceeding in accordance with 28 U.S.C. § 157(b)(2); and venue being proper in this District pursuant to 28 U.S.C. §§ 1408 and 1409; and due and proper notice of the Motion being adequate and appropriate under the particular circumstances; and upon the record of any hearing being held to consider the relief requested in the Motion; and upon all proceedings had before this Court; and this Court having found and determined that the relief sought in the Motion is in the best interests of the Debtors’ estates, their creditors, and other parties in interest and that the legal and factual bases set forth in the Motion establish just cause for the relief granted herein; and any objections to the requested relief having been withdrawn or overruled on the merits; and after due deliberation and sufficient cause appearing therefor, IT IS HEREBY ORDERED: 1. Both KL1 and KL2 are authorized to take all actions necessary to effectuate the relief granted pursuant to this Order in accordance with the Motion.Notice of the Motion as provided therein shall be deemed good and sufficient notice of such Motion and the requirements of Bankruptcy Rule 6004(a) and the Local Rules are satisfied by such notice.

List of Tables

Document Contents

IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: Chapter 11 KLAUSNER LUMBER ONE LLC, Case No. 20-11033 (KBO) Debtor.1 In re: Chapter 11 KLAUSNER LUMBER TWO LLC, Case No. 20-11518 (KBO) Debtor.2 ORDER PURSUANT TO BANKRUPTCY RULE 9019, LOCAL RULE 9013-1 AND 11 U.S.C. §§ 105(A) AND 363(B) AUTHORIZING AND APPROVING THAT CERTAIN SETTLEMENT AGREEMENT BY AND BETWEEN KLAUSNER LUMBER ONE LLC AND KLAUSNER LUMBER TWO LLC Upon the Joint Motion of the Debtors and Official Committees of Unsecured Creditors Pursuant to Bankruptcy Rule 9019, Local Rule 9013-1 and 11 U.S.C. §§ 105(a) and 363(b), for Entry of an Order Authorizing and Approving that Certain Settlement Agreement by and between Klausner Lumber One LLC and Klausner Lumber Two LLC (the “Motion”),3 and this Court having jurisdiction to consider the Motion and the relief requested therein in accordance with 28 U.S.C. §§ 157 and 1334 and the Amended Standing Order of Reference from the United States District Court for the District of 1 The last four digits of the Federal EIN of Klausner Lumber One LLC is 9109, and its mailing address is Klausner Lumber One LLC, P.O. Box 878, Middleburg, VA 20118. 2 The last four digits of the federal EIN of Klausner Lumber Two LLC is 4897, and its mailing address is Klausner Lumber Two LLC, P.O. Box C, Redding Ridge, CT 06876. 3 All capitalized terms not otherwise defined herein are to be given the meanings ascribed to them in the Motion.

1

Delaware, dated as of February 29, 2012; and consideration of the Motion and the relief requested therein being a core proceeding in accordance with 28 U.S.C. § 157(b)(2); and venue being proper in this District pursuant to 28 U.S.C. §§ 1408 and 1409; and due and proper notice of the Motion being adequate and appropriate under the particular circumstances; and upon the record of any hearing being held to consider the relief requested in the Motion; and upon all proceedings had before this Court; and this Court having found and determined that the relief sought in the Motion is in the best interests of the Debtors’ estates, their creditors, and other parties in interest and that the legal and factual bases set forth in the Motion establish just cause for the relief granted herein; and any objections to the requested relief having been withdrawn or overruled on the merits; and after due deliberation and sufficient cause appearing therefor, IT IS HEREBY ORDERED: 1. The Motion is GRANTED. 2. The Settlement Agreement, attached hereto as Exhibit 1 is APPROVED. 3. KL1 shall have an allowed general unsecured claim against KL2 in the amount of $8,209,775.21. 4. Donlin, Recano & Company, Inc., KL2’s noticing and claims agent, is authorized to update the KL2 claims register to reflect the relief granted in this Order. 5. Both KL1 and KL2 are authorized to take any and all actions as may be necessary to complete, effectuate and implement the terms and provisions of the Settlement Agreement. 6. Both KL1 and KL2 are authorized to take all actions necessary to effectuate the relief granted pursuant to this Order in accordance with the Motion. 7. This Order shall take effect immediately upon entry and shall not be stayed pursuant to Bankruptcy Rules 6004(h), 7062 or otherwise. 2

2

8. Notice of the Motion as provided therein shall be deemed good and sufficient notice of such Motion and the requirements of Bankruptcy Rule 6004(a) and the Local Rules are satisfied by such notice. 9. The Court shall retain jurisdiction with respect to all matters arising from or related to the implementation or interpretation of this Order and the Settlement Agreement. __________________________________ Dated: August 12th, 2021 KAREN B. OWENS Wilmington, Delaware UNITED STATES BANKRUPTCY JUDGE 3

3