With the exception of the Finance Network LLC d/b/a Export Finance Bank (hereinafter “Export Bank”), whose claim is based on litigation which is stayed as to Debtor and which is pending as to Wicklund...
Class 20: Unsecured Claims Of Debtor as Guarantor of Debts of
Wicklund and its Affiliates or as Co-Debtor/Defendant with Wicklund
This class consists of the claims of seven creditors holding claims in the amount of
$4,793,145.00. With the exception of the Finance Network LLC d/b/a Export Finance Bank
(hereinafter “Export Bank”), whose claim is based on litigation which is stayed as to Debtor and
which is pending as to Wicklund, these debts were created as a result of Debtor’s guaranty of
Wicklund obligations and Wicklund has agreed to the issuance of Wicklund Treasury Stock by
issuing shares numbering approximately two-thirds of the indebtedness owed each creditor (eg. a
$1,500,000.00 claim will receive 1,000,000 shares of Wicklund Stock). Upon confirmation of
Debtor’s Chapter 11 Plan of Reorganization, Wicklund, if not already issued, will issue stock to the
creditors in this class and upon the issuance of same Debtor will be released from any liability to said
creditors. Further, upon the sale of the Wicklund stock, any indebtedness of Wicklund to the
creditors in this class will be deemed satisfied and paid in full. The distribution of stock to members
of this class is in addition to any Wicklund stock previously given as security to a member of this class. A chart indicating said creditors and the amount of stock they are to receive is attached hereto
as Exhibit “C”.
...
IN RE: JAMES N. TUREK, CASE NO. 02-20411-PCY5 CHAPTER 11 Debtor.
...
Dated this 27th day of January, 2005. |
