Free Notice of Settlement - District Court of Delaware - Delaware

Case 1:04-cv-00592—Gl\/IS Document 18 Filed 07/14/2005 Page 1 of 4
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
In re: ) Chapter I I .
I
INACOM CORP. et al., ) Case No. 00-2426 (PJW)
) Jointly Administered
Debtors. )
Y
)
INACOM CORP. )
) Civil Action No. 04-592 (GMS)I
Plaintiff, )
)
v. )
I
NEXTEL COMMUNICATIONS, INC., )
I
Defendant. )
SETTLEMENT STIPULATION
This SETTLEMENT STIPULATION (the "Stipulation") is made as of this Q day of
July, 2005. between plaintiff, lnacom Corp., acting on behalf ofall of its affiliated debtors
("Plaintift" or “Debtor") and defendant Nextel Communications. Inc. ("Defendant" or "Nextel").
RECITALS
WHEREAS, on June I6. 2000 (the "Petition Date"). Plaintiff and its attiliated debtors
(collectively, the "Debtors") tiled voluntary petitions for relief under chapter I I ofthe United
States Bankruptcy Code in the United States Bankruptcy Coun for the District of Delaware.
where their cases were jointly administered;
WHEREAS, on May 23, 2003, the Chapter l l liquidating plan of the Debtors was
confirmed by the Bankruptcy Court;
I Formerly Adv. Pro. No. 02-036l4.
iimowz

Case 1:04-cv-00592—Gl\/IS Document 18 Filed 07/14/2005 Page 2 of 4
WHEREAS, on May 30, 2002, the Plaintiff filed a complaint against Defendant
commencing this action (the "Preference Action"), seeking to avoid and recover allegedly
preferential transfers in the total amount of $269,7461 I ;
WHEREAS, on August i5, 2002, Defendant filed an answer to the complaint, and
asserted additional defenses thereto;
WHEREAS, apart from this preference action. Defendant has filed a pre—petition general
unsecured claim against the Debtor as well as a post-petition administrative claim;
WHEREAS, the Plaintiff and Defendant have engaged in settlement discussions and
negotiations conceming the preference claim and wish to amicably resolve, settle and
compromise the preference claim as provided in this Stipulation. without prejudice to their
respective claims and defenses in matters other than this Preference Action; and
WHEREAS, the Plaintiff has concluded in its business judgment that the parties should
resolve this Preference Action in the manner indicated below;
NOW, THEREFORE, in consideration ofthe mutual covenants of the parties, and
intending to be legally bound hereby, it is agreed as follows:
l. In consideration of this Stipulation. immediately upon the Effective Date (as
defined herein), Defendant shall pay to the Plaintiff $8.873.05 (the "Settlement Amount") by
check in full settlement and satisfaction of the Preference Action and the claims asserted in the
Preference Action, and in full settlement and satisfaction of any other preference or other transfer
avoidance claims that could have been asserted by the Plaintiff or the Debtors’ estate against
Defendant.
2. The parties acknowledge that this settlement is a compromise of a disputed claim.
Defendant does not acknowledge any liability on the claims asserted in the Preference Action,
2
image/2

Case 1:04-cv-00592—Gl\/IS Document 18 Filed 07/14/2005 Page 3 of 4
and nothing in this Stipulation shall constitute an admission of liability or acknowledgement of
any defense, all of which are denied. Nothing herein shall prejudice Defendant’s other claims
against the Debtor nor shall anything herein prejudice any of the defenses Defendant has to any
claims that the Debtor may bring against Nextel in the future.
3. Pursuant to the Order For Motion of Debtors F or Entry of An Order Authorizing
And Approving Omnibus Procedure For Settling Certain Claims And Causes Of Action Brought
By The Debtors In A Judicial, Administrative, Arbitral Or Other Action or Proceeding (the
"Omnibus Order"), the Debtor was vested with the authority to recover preference payments or
otherwise settle or compromise certain preference claims. without any further Bankruptcy Court
approval required.
4. The Debtor represents that all necessary approvals of this settlement have been
obtained.
5. This Stipulation may not be altered, modified. terminated nor may its provisions
be waived except by a written agreement signed by both Defendant and the Plaintiff
6. The Bankruptcy Court shall retain jurisdiction over the subject matter of this
Stipulation to resolve all disputes relating thereto and to enforce the settlement set forth herein.
7. This Stipulation may be executed in one or more counterparts, each of which shall
be deemed an original.
3
limos/2

Case 1:04-cv-00592—Gl\/IS Document 18 Filed 07/14/2005 Page 4 of 4
IN WITNESS WHEREOF, the parties hereto have executed this Stipulation as of the date
and year first written below.
PACI-IULSKI, STANG, ZIEHL, YOUNG, MORRIS. JAMES. HITCHENS & WILLIAMS
JONES & WEINTRAUB P.C. LLP
3
Laura Davis Jones, Esquire (ID # 2436) Brett D. F . Esquire (ID # 2480)
Sandra G. McLamb, Esquire (ID # 4283) Douglas N. andeub. Esquire (#421 1)
919 North Market Street, 16th Floor 222 Delaware Avenue, 10th Floor
Wilmington, Delaware 19899 P.O. Box 2306
Telephone: (302) 778-6401 Wilmington, Delaware 19899-2306
Telephone: (302) 888-6800
and E—Mail: bfallon(c1)morris`|ames.com
E-mail: [email protected]
Steven Kahn, Esquire
10100 Santa Monica Blvd., Suite 1 100 Attomeys for Nextel C ommunications. Inc.
Los Angeles, CA 90067
Telephone: (310) 277-6910
Email: [email protected]
Attorneys for plaintiff Inacom Corp.
4
H33899/2

Case 1:04-cv-00592-GMS

Document 18

Filed 07/14/2005

Page 1 of 4

Case 1:04-cv-00592-GMS

Document 18

Filed 07/14/2005

Page 2 of 4

Case 1:04-cv-00592-GMS

Document 18

Filed 07/14/2005

Page 3 of 4

Case 1:04-cv-00592-GMS

Document 18

Filed 07/14/2005

Page 4 of 4