Docket #4679 Date Filed: 3/9/2010

TN

THE UNITED STATES BAI\KRUPTCY COURT FOR TIIE DISTRICT OF DELAWARE

In re:
MERVYIVS HOLDINGS, LLC,9! AL,'
Debtors.

)
)

ChaPter

11

)
)

C"t.

No.08-11586 (KG)

'rtered JointlY Adminis

)lr t* /c r/ '4-'

STIPULATION FOR ALLOWANCE AMENDED ORDER APPROVING AMENDED

Ar\rDpAyMENroicLArMSoFD;tArNrERNArtgl:*JlL",'SS,LrIQUrDIrY
ANDNow'uponconsiderationoftheStipulationattachedheretoasExhibitA,andgood
cause appearing for the approval thereof

it is hereby:

ORDERED,thatthestipulation,whichamendsandsupersedesthestipulationfor is APPR'VED; Depa International [Docket No. 4489], Arowance and payment of craims of
and

it is further

and supersedes the ord.er Granting stipuration for ORDERED, that this order amends Inc. [Docket No. 4493]; and it is and payment of craims of Depa Internationar Arowance further

ORDERED,thattheCourtshallretainjurisdictionovertheimplementationand
this Order' enforcement of the Stipulation and

Dil"d@,2010 Delaware
Wilmington,

ffiongwith.m:'3"fourdigits9fthe1rfederaltaxidentificationnumbers,are LLC (8850)' ir..uyn', r.dia+iol uid M.tt'yn't Brands,

Mervyn,s Holdings,

Lrc ciioji,

DBI/64295300.3

RLFI

3545573v.1

0q/v*#) $7 0811586100309000000000004

EXHIBIT A

DBl/6429s300.3

RLFI 3545573v.1

IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE

In

re: Debtors.

) 4,r )
) )

Chapter

11

MERVYN'S HOLDINGS, LLC,9!

Case No. 08-11586

(KG)

Jointty Administered

AMENDED STIPULATION FOR ALLOWAI\CE AND PAYMENT OF CLAIMS

oFDEPAlilIl*ilf#31'*11"";ii'*"lililTi'1ffi

iil'V"l""NS'INC'

Depa International Inc. ("Depa"), Liquidity Solutions, Inc. ("Liquidity") and the abovecaptioned debtors and debtors in possession (the "Debtors") hereby stipulate as follows:

RECITALS

A.

Depa timely filed proofs

of claim (the "Filed Claims") seeking, among

other

things, priority and payment as follows:

(l)

Claim No. 393, general unsecured priority, $145,480.32;

(2) Claim No. 5215, which includes (i) a general unsecured claim in the amount

of

$145,480.32 and. (ii) an administrative priority claim

in the

amount of

$252,751.68; and

(3) Claim No. 5588, which includes (i) a general unsecured claim in the amount

of

$127,181.00 and

(ii) an administrative priority claim in the amount of

$271,051.20.

B.
No.31451.
t

On or about March 19,2009, Depa transferred the administrative priority portion

of Claim No. 5215 in the amount of $252,600.00 (the "Transferred Claim") to Liquidity [Docket

Th" D"bto.r in these cases, along with the last four digits of their federal tax identification numbers, Holdings, LLC (3405), Mervyn's LLC (4456) and Mervyn's Brands, LLC (8850).

are Mervlm's

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RLFI 3545573v.1

C. D.

The Debtors have filed one or more claim objections to the Filed Claims.

On or about January 15, 2010, the Court entered the Order Granting Stipulation

for Allowance and Payment of Claims of Depa International Inc. [Docket No. 4493], which
incorrectly allowed Depa an adminisfiative priority claim on account of the Transferred Claim.

E.
follows:

The Debtors, Depa and Liquidity HEREBY STIPULATE AND AGREE

as

AGREEMENT

1. 2. 3. 4.

The Recitals are true and correct and are incorporated herein by reference.

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

and effect unless and

until approved by the Bankruptcy Court.

This Stipulation amends and supersedes the Stipulation for Allowance and

Payment of Claims of Depa International [Docket No. 4489].

For full resolution of the Filed Claims but excluding the Transferred Claim, Depa

shall be allowed a general unsecured claim against Mervyn's LLC in the amount of $142,587.80 (the "Allowed Unsecured Claim").

5.

For full resolution of the Transferred Claim, Liquidity (as hansferee of Depa)

shall be allowed an administrative expense claim against Mervyn's LLC pursuant to

1l U.S.C.

503(b)(9) in the amount of $251,507.80 (the "Allowed Administrative Priority Claim"). The

Allowed Administrative Priority Claim shall not be subject to further reduction, offset, setoff,
reclassification or disallowance pursuant to 11 U.S.C. $ 502(d) or otherwise.

6.

Any and all previously filed objections to the Filed Claims are overruled to the

extent inconsistent with the terms hereof.

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RLF1 3545573v.1

7.
of this Court.

Payment of the Allowed Unsecured Claim shall be made in accordance with the

terms of the chapter 1l plan ultimately confirmed in these chapter 11 cases, or upon further order

8.

Payment of the Allowed Adminishative Priority Claim shall be made as follows:

11 plan, the Debtors make payments to

(i) in the event that, prior to confirmation of any chapter

any creditors on account of any administrative expenses pursuant

to

11 U.S.C. $ 503(bX9)

arising from goods provided to the Debtors within the twenty days prior to July 29,2008 (the

"Petition Date"), Liquidity shall be entitled to receive payment on similar terms on account of
the Allowed Administrative Priority Claim at Liquidity's option or (ii) in the event that, prior to

confirmation of any chapter account

1l plan, the Debtors do not make payments to any creditors

on

of

administrative expenses pursuant

to

11 U.S.C.

503(bX9) arising from goods

provided to the Debtors within the twenty days prior to the Petition Date, or in the event that in
accordance

with clause (i) of this paragraph Liquidity declines to receive earlier

payment,

Liquidity shall be entitled to payment on account of the Allowed Administrative Priority 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.

9.
chapter

This Stipulation shall be binding upon

(i)

any liquidating trustee; plan

adminishator; distribution agent and./or any other responsible person appointed pursuant to any

1l plan confirmed in these cases; (ii) any chapter

11 trustee appointed in these cases

and/or (iii) any chapter 7 trustee appointed or elected in these cases.

10.

This Stipulation may be executed in counterparts, each of which shall be deemed

an original and all of which, taken together, shall constitute one and the same Stipulation.

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Katharine L. Mayer (No. 3758) Daniel M. Silver (No. 4758) Christopher M. Samis (No. a909) L. Katherine Good (No. 5101)

MCCARTER & ENGLISH, LLP

Renaissance Centre 405 N. King Street, 8th Floor

RICHARDS, LAYTON & FINGE& P.A.

One Rodney Square 920 North King Street

Wilmington, Delaware 1 9801 Telephone: (302) 651-7700 Facsimile: (302) 651-77 0l Email: collins@lf.com defranceschi@lf.com samis@lf.com good@rlf.com
and

V/ilmington, DE 19801 Telephone: (302) 984-63 00 Facsimile: (302) 984-6399 Email : kmayer@mccarter. com dsilver@mccarter.com
Counsel to Depa International Inc.

Howard S. Beltzer Wendy S. Walker MORGAN, LEWIS & BOCKIUS LLP 101 Park Avenue New York, New York 10178-0060 Telephone: (212) 309-6000 Facsimile: (212) 309-6001 Emai I : hb eLvm @morganlewis. c om wwalker@morganlewis. com
Attorneys for the Debtors and Debtors in Possession

Norman D. Schoenfeld LIQUTDITY SOLUTIONS, INC., AS TRA}ISFEREE OF DEPA

INTERNATIONAL INC. One UniversityPl"z+ Suite 312

Hackensack, NJ 07601

Telephone: (201) 968-0001 x126 Facsimile: (20 1) 968-001 0 Email : nschoenfeld@liquiditysolutions.com

Counsel to Liquidity Solutions, Inc.

DBr/642953003

Mark D. Collins (No. 2981) Daniel J. DeFranceschi (No. 2732) Christopher M. Samis (No. 4909) L. Katherine Good (No. 5l0l) RICHARDS, LAYTON & FINGE& P.A. One Rodney Square 920 North King Street Wilmington, Delaware I 980 I Telephone: (302) 651-7700 Facsimile: (302) 651-7701 Email : collins@rlf.com defranceschi@rlf.com samis@rlf.com good@lf.com
and

Katharine L. Mayer (No. 375S) Daniel M. Silver (No. 4758)

MCCARTER & ENGLISH, LLP

Renaissance Centre 405 N. King Street, 8th Floor

Wilmington, DE 19801
Telephone: (302) 984-6300 Facsimile: (302) 984-6399 Email : kmayer@mccarter. com dsilver@mccarter.com Counsel to Depa International Inc.

Howard S. Beltzer Wendy S. Walker MORGAN, LEWIS & BOCKIUS LLP l0l Park Avenue New York, New York 10178-0060 Telephone: (212) 309-6000 Facsimile: (212) 309-6001 Email: hbeltzer@morganlewis.com wwalker@morganlewis. com
Attorneys

for the Debtors and Debtors in Possession

LIQUIDITY SOLUTIONS, INC., AS TRANSFEREE OF DEPA INTERNATIONAL INC. One University plaza, Suite 312 Hackensack, NJ 07601 Telephone: (201) 968-0001 xl26 Facsimile: (201 ) 968-001 0 Email : nschoenfeld@liquiditysolutions.com
Counsel to Liquidity Solutions, Inc.

DBr/64295300.3