IN THE UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION In re: ) ) COLLINS & AIKMAN CORPORATION,
et al.1 ) ) Debtors. ) ) ) ) ) ) _________________________________________) Chapter 11 Case No. 05-55927 (SWR) (Jointly Administered) (Tax Identification #13-3489233) Honorable Steven W. Rhodes
STIPULATION WITHDRAWING AND AMENDING CLAIMS This Stipulation, by and between the Collins & Aikman Post-Consummation Trust (the PCT) and the Collins & Aikman Litigation Trust (the LT) (collectively, the PCT and the LT will be known as the Trusts), as successors to the above-captioned Debtors (collectively, the Debtors) pursuant to the Plan (as hereinafter defined), and Phillips Tool & Mould (London) Ltd. (the Claimant), withdraws and/or amends the claims filed by the Claimant.
The Debtors in the jointly administered cases include: Collins & Aikman Corporation; Amco Convertible Fabrics, Inc., Case No. 05-55949; Becker Group, LLC (d/b/a/ Collins & Aikman Premier Mold), Case No. 05-55977; Brut Plastics, Inc., Case No. 05-55957; Collins & Aikman (Gibraltar) Limited, Case No. 05-55989; Collins & Aikman Accessory Mats, Inc. (f/k/a the Akro Corporation), Case No. 05-55952; Collins & Aikman Asset Services, Inc., Case No. 05-55959; Collins & Aikman Automotive (Argentina), Inc. (f/k/a Textron Automotive (Argentina), Inc.), Case No. 05-55965; Collins & Aikman Automotive (Asia), Inc. (f/k/a Textron Automotive (Asia), Inc.), Case No. 0555991; Collins & Aikman Automotive Exteriors, Inc. (f/k/a Textron Automotive Exteriors, Inc.), Case No. 05-55958; Collins & Aikman Automotive Interiors, Inc. (f/k/a Textron Automotive Interiors, Inc.), Case No. 05-55956; Collins & Aikman Automotive International, Inc., Case No. 05-55980; Collins & Aikman Automotive International Services, Inc. (f/k/a Textron Automotive International Services, Inc.), Case No. 05-55985; Collins & Aikman Automotive Mats, LLC, Case No. 05-55969; Collins & Aikman Automotive Overseas Investment, Inc. (f/k/a Textron Automotive Overseas Investment, Inc.), Case No. 05-55978; Collins & Aikman Automotive Services, LLC, Case No. 05-55981; Collins & Aikman Canada Domestic Holding Company, Case No. 05-55930; Collins & Aikman Carpet & Acoustics (MI), Inc., Case No. 05-55982; Collins & Aikman Carpet & Acoustics (TN), Inc., Case No. 05-55984; Collins & Aikman Development Company, Case No. 05-55943; Collins & Aikman Europe, Inc., Case No. 05-55971; Collins & Aikman Fabrics, Inc. (d/b/a Joan Automotive Industries, Inc.), Case No. 05-55963; Collins & Aikman Intellimold, Inc. (d/b/a M&C Advanced Processes, Inc.), Case No. 05-55976; Collins & Aikman Interiors, Inc., Case No. 05-55970; Collins & Aikman International Corporation, Case No. 05-55951; Collins & Aikman Plastics, Inc., Case No. 05-55960; Collins & Aikman Products Co., Case No. 05-55932; Collins & Aikman Properties, Inc., Case No. 0555964; Comet Acoustics, Inc., Case No. 05-55972; CW Management Corporation, Case No. 05-55979; Dura Convertible Systems, Inc., Case No. 05-55942; Gamble Development Company, Case No. 05-55974; JPS Automotive, Inc. (d/b/a PACJ, Inc.), Case No. 05-55935; New Baltimore Holdings, LLC, Case No. 05-55992; Owosso Thermal Forming, LLC, Case No. 05-55946; Southwest Laminates, Inc. (d/b/a Southwest Fabric Laminators Inc.), Case No. 05-55948; Wickes Asset Management, Inc., Case No. 05-55962; and Wickes Manufacturing Company, Case No. 05-55968.
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WHEREAS, on May 17, 2005 (the Petition Date), the Debtors filed petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Eastern District of Michigan (the Bankruptcy Court); WHEREAS, Claimant filed the following proofs of claim: Claim number 4013; Claim number 3773; Claim number 4491; Claim number 4494; Claim number 4495; Claim number 4497; Claim number 4499; Claim number 4814; Claim number 3738; Claim number 3741; Claim number 3742; Claim number 4506; Claim number 4363; Claim number 4507; Claim number 4801; Claim number 4835; Claim number 5961; Claim number 3878; Claim number 4345; Claim number 4505; Claim number 3774; Claim number 4015; Claim number 4507; Claim number 4844; Claim number 4499; Claim number 8802; and Claim number 8825 (the Claims); WHEREAS, the PCT filed its Twenty-Fifth, Twenty-Ninth and Thirty-Fourth Omnibus Objections to various Claims defined above (the PCT Objections); WHEREAS, the LT filed its Seventy-Third Omnibus Objection to various Claims defined above (the LT Objection); WHEREAS, the PCT and the Claimant entered into a Settlement Agreement and Mutual Release on October 18, 2008 (the Settlement Agreement) which was subsequently approved by order of the Bankruptcy Court and which resolved the Claims, the PCT Objections and the LT Objection. IT IS STIPULATED AND AGREED THAT: 1. Claim number 4497 is amended to an allowed general unsecured claim in the
amount of $343,405.28. All other Claims are hereby withdrawn and expunged with prejudice.
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2.
To the extent any distributions are made on Claim 4497 as amended by this
Stipulation, such distributions will be made pursuant to the terms of the First Amended Joint Plan of Collins & Aikman Corporation and Its Debtor Subsidiaries, dated July 9, 2007 (the Plan), as confirmed by the Order Confirming the First Amended Joint Plan of Collins & Aikman Corporation and Its Debtor Subsidiaries, entered on July 18, 2007. 3. The PCT Objections and the LT Objection are hereby withdrawn only to the
extent that they objected to the Claims, as that term is defined by this Stipulation. 4. The Debtors notice and claims agent, Kurtzman Carson Consultants, LLC, is
authorized to take all actions necessary to effect this Stipulation. 5. By agreeing to enter into this Stipulation, the Parties shall not be deemed to have
waived any right or remedy afforded to them under the Bankruptcy Code or otherwise, except as provided in this Stipulation. 6. This Stipulation may not be modified, altered, amended or vacated without the
written consent of all parties hereto. Any such modification, alteration, amendment or vacation, in whole or in part, shall be subject to the approval of the Bankruptcy Court. The Bankruptcy Court shall retain jurisdiction to resolve any disputes or controversies arising from or related to this Stipulation.
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7.
A proposed order, consistent with the form attached hereto as Exhibit A, shall be
submitted to the Bankruptcy Court immediately following the filing of this Stipulation. SO STIPULATED, APPROVED AS TO FORM AND CONTENT: BOYLE BURDETT WARNER NORCROSS & JUDD, LLP
By: /s/H. William Burdett, Jr. Eugene H. Boyle, Jr. H. William Burdett, Jr. 14950 East Jefferson, Suite 200 Grosse Pointe Park, Michigan 48230 (313) 344-4000 (313) 344-4001 (facsimile) burdett@boyleburdett.com Attorneys for the Collins & Aikman Post-Consummation Trust & Litigation Trust
/s/ Dennis W. Loughlin Dennis W. Loughlin 2000 Town Center, Suite 2700 Southfield, Michigan 48075 (248) 784-5000 (248) 603-9786 (facsimile) dloughlin@wnj.com Attorneys for Phillips Tool & Mould (London), Ltd.
By:
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