IN THE UNITED STATES BANKRUPTCY COURT FOR TIIE DISTRICT OF DELAWARE In re: MERVYN'S HOLDINGS, LLC,

Debtors.
et

) Chapter

11

ALr

) ) )

Case No. 08-11586

(KG)

) Jointly Administered

(s

),"r * /ka6

ORDER APPROVING STIPULATION FOR ALLOWAI\CE AND PAYMENT OF CLAIMS OF SPCP GROUP, L.L.C., AS AGENT FOR SILVER POINT CAPITAL FUND, L.P. & SILVER POINT CAPITAL OFFSHORE FUND, LTD. (AS TRANSFEREE OF PERR)r ELLIS INTERNAIIONAL,INC. AI\[D JAI\TZEN L.L.C.)

AND NOW, upon consideration of the Stipulation2 attached hereto as Exhibit

good cause appearing for the approval thereof, it is hereby:

and

ORDERED, that fhe Stipulation is APPROVED; and it is turther ORDERED, the Court shall retain jurisdiction over the implemartation and enforcement

of the Stipulation and this Order.

Dated:Wzaog
Wilmington, Delaware

Mervyn's Holdings,

'

The Debtoo in these cases, along with the last four digits of their federal tax identification numbers, are (3405), Mervyn's LLC (44'56> and Mervyn's Brands, LLc (ss50). Terms not defined herein shall have the meanings attributed to them in the Stipulation

Irc

DBI/63914811.1 RLFI-3503136-r

0q/v)+, #s 0811586091112000000000003

EXHIBIT A

DBI/6391464t.1 RLF I-3503136-t

IN TIIE UNITED STATES BANKRTTPTCY COTTRT FOR THE DISTRICT OF DELAWARE

) ) MER\ryN'S AOLDINGS, LLC, g! ett )

In

re:

Chapter 11
Case No.

08-lt5S6 (KG)

Debtors.
SPCP GROUP'

)
)

Jointly Administered

STIPULATION FOR ALLOWANCE AND PAYMDNT OF CLAIMS OF LL.C, AS AGEIYT FOR SIL\|ER POINT CAPITAL FUND, L.P. & SIL\{ER POINT CAPITAL OFFSIIORE FUND' LTD, (AS-TRANSFEREE oTpERRyELLJSTNTERNATI9,J{AL.,S{C.A}.{p,J4I{VENL.L,CT)

SPCP Group, L.L.C., as Agent

for Silver Point Capitat Fun4 L.P. and Silver Point

Capital Offshore Fund, Ltd- C'SPCP') as Fansferee of Perry Ellis International, Inc. (,perry

EUiq') and Jantzen L.L.C. f'Jantzen'), ffid the above-captioned debtors and debtors in
possession (the "Debtors") hereby stipulate as follows:

RECITALS

A. B.
gaip,'and

Prior to July 9, 2008, Perry Ellis and/or Qantzenprovided the Debtors with goods

in the aggregate net amormt of $33,414.28 (the ..UgSgg&d_eldpq).

Within the twenty days prior to JuIy 29,z}O8,Perly Ellis aad/or Jantzen provided

the Debton with goods in the aggegate amount of $6,315.84 (the "Prepetition Admgrisrative
together with the Unsecured Claim, the ,,Ctaims').

C.
SPCP.

On or about September 18, 2008, Perry Ellis and Jantzen assigned the Claims to

The DtbtoF T -9:-t9 *ts, along wr$.the last brn digits of rheir federal bx identiftcatio! nwnbers, are Mervyn's Holdings, LLc (3405), Mervyn's Ll-c (44s6rand Meriyn's Brands, LLc (ggs0).

D.

On or about December 17, 2008, SPCP timely filed proofs of claim (Claim Nos.

2661,2666,27N),2797,2802,2840 and 5733) seeking, among otherthings, payment on account

of the Unseeured Claim and the Prepetition Adminishative Claim (the "Eiled Claizu).

E. 1. 2. 3.
(ii)

The Debtors and SPCP tmREBY STIPIJLATE AND AGREE as follows:

AGREEMENT
The Recitals axe true and correct and are incorporaied herein by reference.

This Stipulation is subject to Banknrptcy Court approval and shall be of no force

and effectunless and until approved by the Bankruptcy Court.

On accornrt of the Filed Claims, SPCP sliall be allowed (i) a general unsecurod

claim against Mervyn's LLC in the amount of $33,414.28 (the "Allowed,Unsecrned Claim") and
an adminishative expense claim against Mervyn's

LLC prsuant to 1l U.S.C. $ 503(bX9) in

the amount of $6,315.84 (the "Allgwed Prepetition A.dministrative Clgim" and together with the

Allowed Unsecwed Claim, the "4Jlgiy,9d-e!aigry). The Allowed Qlaims shall be designated by
the Debtors'claims agent as Claim No.2661.

4. 5. 6.

Payment of the Allowed Claims shall be made in accordance with the tenns of the

chapter 11 plan ultimately confirmed in these chapter l1 cases.

Claim Nos. 2666, 2790,2797,2802,2840 and 5733 shall be deemed expunged.

This Stipulation does not impac! alter or affect any other proofs of claim that filed or owns against

SPCP, Perry Ellis, Jantzea andl/or Sr.preme International L.L.C. may have

the Debtors, and

it

relates solely to fhose matters arising out of or related to the seven Filed

Claims identifi ed herein.

7.

This Stipulation shall be binding upon (D any liquidating tustee;

plan

administrator; distribution agent and/or any other responsible penion appointed pursuant to any

chapter 11 plan confirmed in these cases; (ii) any chapter

l1

tnrstee appointed in these

and/or (iii) any chapter 7 trus'tee appointed or elected in these oases.

D aniel X DeFranceschi (No. 27 32)

Ctuistopher M. Samis (No. a909) L. Karherine Good (No. 5101) RICIIARDS, LAYTON & FINGER" P.A. One Rodney Square 920 North King Street WiLminglor! Delaware I 980 I Telephone: (302) 651-7700 Facsimile: (302) 651-7741 Email: collins@lf.oom defranceschi@rlf.com samis@lf.com good@lf.com
and

Maura I. Russell (ildR 1178) Anthony B. Stumbo (AS 9374) EPSTEIN BECKER & GREEN, P.C. 250 Puk Avenue - lld'Floor New York, New York rcfi7 Tel.:212-351-4500 Fax:212-661-0989 Email : astumbo@ebglaw. com
Counsel to SPCP Group, L.L.C, as Agentfor Silver Point Capital Fud, LP. andSilver Ltd. Point Capital ffihore

hnt

Howard S. Beltzer Wendy S. Walker MORGAN, LEWIS & BOCKruS LLP 101 Park Avenue New York, New York 10178-0060 Telephonc Qlz) 309-6000 Facsimile: (212) 309-6001 Email : hbeltzer@norganlewis. oom wwalker@mo rganlewis. com

Attorneysfor the Debtors snd Debtoi,s in Possession