IN RE: JAMES N. TUREK, CASE NO. 02-20411-PCY5, CHAPTER 11 Debtor.
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF FLORIDA
PANAMA CITY DIVISION
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IN RE:
JAMES N. TUREK, CASE NO. 02-20411-PCY5
CHAPTER 11
Debtor.
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ORDER CONFIRMING DEBTORS THIRD AMENDED PLAN OF REORGANIZATION AS RESTATED
THIS CAUSE came before the Court on March 25, 2005 for hearing on confirmation of Debtors Third Amended Plan of Reorganization as Restated (the "Amended Plan"). At the commencement of the initial hearing on confirmation on October 16, 2003 it was reported by counsel for Debtor that no objections to confirmation had been filed and that all creditors in all classes voting, to include impaired classes, had voted to accept the Plan.
Thereafter this Court considered and accepted the Debtors' proffer of evidence to determine whether Debtor’s Amended Plan was in compliance with the requirements of 11 USC §1129. This Court having considered additional evidence adduced through the documents of record previously filed in these proceedings, and for those other and further findings as set forth in the record of these proceedings has determined that the Debtors' Amended Plan is in the best interests of creditors, complies with the requirements of 11 U.S.C. §1129, should be approved, and the Debtors' Amended Plan should be confirmed.
Accordingly, it is
ORDERED AND ADJUDGED that
1. The Debtors' Amended Plan was transmitted to the holders of all claims and interests in these proceedings and to counsel for those parties noticing their appearance in these proceedings.
2. The Debtors’ Amended Plan is in compliance with the applicable provisions of the Bankruptcy Code, to include 11 U.S.C. §1129(a).
3. The Debtor has proposed his Amended Plan in good faith and not by any means forbidden by law.
4. All payments to professionals, whether made or to be made, by or for the benefit of the Debtor for fees and costs of professionals in connection with these proceedings are subject to the approval of this Court.
5. Each holder of a claim or interest has voted to accept the Debtors’ Amended Plan or will receive or retain under the Amended Plan on account of such claim or interest property having a value, as of the Amended Plan's effective date, which is not less than the amount which such holder would receive or retain if the Debtor were liquidated under Chapter 7.
6. The impaired and unimpaired classes under the Debtors’ Amended Plan have accepted the Debtors’ Amended Plan or are not impaired and did not vote to accept or reject Debtor’s Amended Plan.
7. The terms of any stipulation between Plasticon and/or Debtor and/or any other entity managed by Debtor with creditors in these or related proceedings shall control to the extent inconsistent with Debtors’ Amended Plan.
8. The Debtor is current in payment of fees due to the United States Trustee and, pursuant to 28 U.S.C. § 1930 shall continue to pay said fees until such time as the case is closed, dismissed, or converted.
9. This Court retains jurisdiction to consider those matters as set forth in Debtors’ Amended Plan and for consideration of motions or applications for allowance of administrative claims to include claims of professionals for fees and costs.
10. The findings and conclusions announced by this Court and set forth in the record
of these proceedings are incorporated herein by reference.
11. The Debtors' Third Amended Plan of Reorganization as Restated be and the same
is hereby confirmed.
DONE AND ORDERED in Tallahassee, Florida, this 12th day of April, 2005.
_______________________________
LEWIS M. KILLIAN, JR.
United States Bankruptcy Judge
This Order prepared by C. Edwin Rude, Jr.,
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