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In re:
MERVYN'S HOLDINGS, LLC,9!
Debtors.
)
4,t )
)
Chapter
11
(KG)
Jointly Administered
Related to Docket No. 1737
ORDER APPROVING STIPULATION FOR ALLOWANCE AI\D PAYMENT OF ADMINISTRATIVE EXPENSE CLAIM OF LIQUIDITY SOLUTIONS, INC. ORANSFEREE OF STEVE MADDEN. LTD.)
as
it is hereby:
ORDERED, that the Stipulation is APPROVED; and it is further ORDERED, the Court shall retain jwisdiction over the implementation and enforcement
Dated:@zorc
Wilmington, Delaware LE
t The Debtors in these cases, along with the last four digits of their federal tax identification mrmbers, Mervyn's Holdings, LLC (3405), Mervyn's LLC (4456) and Mervyn's Brands, LLC (8850).
DBI/63709109.3
are
RLFI 3534933v.1
EXHIBIT A
DBI/63709109.3
RLFI 3534933v.1
re: Debtors.
)
)
ChaPter
11
)
)
(KG)
)
)
JointlY Administered
Related to Docket No. 1737
STIPULATION FOR ALLOWAI\CE AI\D PAYMENT OF ADMINISTRATIVE EXPENSE CLArM OF LIQUTDTTY SOLUTIONS,INC. ffRANSFEREE OF STEVE MADDEN. LTD.)
RECITALS
A. B.
On or after July 29, 2008 (the "Petition Date"), Steve Madden provided the
Debtors with goods which Steve Madden asserts have a value of 5L90,754.25.
administrative expenses seeking, Ermong other things, payment of such amount (the "Motion") [Docket No. 1737].
C. D.
of
$ I 90,75
On or about January g, 2009, Steve Madden timely frled a proof of claim (Claim
No. 5122) seeking, among other things, payment of such amount (the "Claim").
On or about October 15,2009, Steve Madden transferred the Claim in the amount
4.25 to Liquidity [Docket No. 4128]. The Debtors and Liquidity HEREBY STIPULATE AND AGREE as follows:
E.
AGREEMENT
t Th" Debtors in these cases, along with the last four digits of their federal tax identification numbers, are Mervyn's Holdings, LLC (3405), Mervyn',s LLC (4456) and Mervyn's Brands, LLC (8850).
DBl/63869266.1
RLFI 3534933v.1
1. 2. 3.
The Recitals are true and correct and are incorporated herein by reference.
In ful| resolution of the Claim and the Motion, Liquidity (as transferee of
Madden) shall be allowed an administrative expense claim against Mervyn's LLC pursuant to 1l
U.S.C. $$ 503(bxl) and 507(a)(2) in the amount of $186,166.80 (the "Allowed Administrative
Expense Claim"), which Allowed Administrative Expense Claim shall not be subject to further
to 11 U.S.C' $ 502(d)
or
4.
(i) in the event that, prior to confirmation of any chapter l1 plan, the Debtors make payments to
any creditors on account of any administrative expenses pursuant
to
11 U.S.C. $ 503(bxl)
arising from goods delivered on or after the Petition Date, Liquidity shall be entitled to receive
of the Allowed
Liquidity's option or (ii) in the event that, prior to confirmation of any chapter 11 plan, the
Debtors do not make payments to any creditors on account of administrative expenses pursuant
Liquidity shall be entitled to payment on account of the Allowed Adminishative Expense Claim
in accordance with the terms of the chapter 11 plan ultimately confirmed in these chapter 1l
cases and on the effective date
of such plan.
5.
This Stipulation shall be binding upon (i) any liquidating trustee; plan
administrator; distribution agent and/or any other responsible person appointed pursuant to any
chapter
cases;
and/or (iii) any chapter 7 trustee appointed or elected in these cases' Dated: 2010
Norman P..Sdhoenfeld
ranceschi (N6.2732) M. Samis (No.4909) L. Katherine Good (No. 5101) RICHARDS, LAYTON & FINGE& P.A.
One Rodney Square 920 Norttr King Street
4fsolutions, Inc.,
as transferee
of
Wilmington, Delaware 1 9801 Telephone: (302) 651-77 00 Facsimile: (302) 651-7701 Email: collins@rlf.com defranceschi@rlf.com samis@rlf.com good@rlf.com
and
Telephone: (201) 968-0001 x126 Facsimile: (201) 968-001 0 Email: nschoenfeld@liquiditysolutions. com Counsel to Liquidity Solutions, Inc.
Howard S. Beltzer Wendy S. Walker MORdAN, LEWIS & BOCKIUS LLP 101 Park Avenue New York, New York 10178-0060 Telephone: Qlz) 309-6000 Facsimile: Qlz) 309-6001 Email: hbeltzer@morganlewis'com wwalker@morganlewis'com
Attorneys the Debtors and Debtors in Possession
for
DBI/63869266.1