UNITED STATES BANKRUPTCY COURT
DISTRICT OF MINNESOTA
In re:
Polaroid Corporation, et al.,
Debtors.
(includes:
Polaroid Holding Company;
Polaroid Consumer Electronics, LLC;
Polaroid Capital, LLC;
Polaroid Latin America I Corporation;
Polaroid Asia Pacific LLC;
Polaroid International Holding LLC;
Polaroid New Bedford Real Estate, LLC;
Polaroid Norwood Real Estate, LLC;
Polaroid Waltham Real Estate, LLC)
Court File Nos.:
Jointly Administered under
Case No 08-46617 (GFK)
08-46621 (GFK)
08-46620 (GFK)
08-46623 (GFK)
08-46624 (GFK)
08-46625 (GFK)
08-46626 (GFK)
08-46627 (GFK)
08-46628 (GFK)
08-46629 (GFK)
Chapter 7 Cases
Judge Gregory F. Kishel
ORDER APPROVING SETTLEMENT AGREEMENT
______________________________________________________________________________
This matter came before the court on the motion of John R. Stoebner, chapter 7 trustee of
the above-captioned bankruptcy estates, to approve a compromise by and among the trustee,
Summit Technology Group, LLC, Harmer Holdings, LLC and World Wide Licenses, Ltd.
resolving certain disputes that have arisen in these cases. Based on the arguments of counsel,
moving documents, the record made at the hearing, the Court’s findings of fact and conclusions
of law, if any, having been recorded in open court following the close of evidence and the court
having reviewed the Settlement Agreement and being fully advised in the premises,
NOTICE OF ELECTRONIC ENTRY AND
FILING ORDER OR JUDGMENT
Filed and Docket Entry made on
Lori Vosejpka, Clerk, By JRB, Deputy Clerk
08/10/2010
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IT IS HEREBY ORDERED THAT:
1. The Settlement Agreement is hereby approved and the parties are authorized to
perform the terms thereunder;
2. Claim 129 filed by Summit Technology Group, LLC in the Bankruptcy Case of
PBE Corporation, Case No. 08-46617, shall be deemed to have been timely and properly filed in
the bankruptcy case of PBE Consumer Electronics, LLC, Case No. 08-46620, and Summit
Technology Group, LLC shall have allowed claims in the PBE Consumer Electronics, LLC
bankruptcy case in the amount of $34,227.49 that shall be entitled to priority as an expense of the
administration of the Chapter 11 cases pursuant to 11 U.S.C. §§ 503(b) and 507(a), and in the
amount of $307,248.41 that shall be be allowed as a general unsecured claim;
3. Summit Technology Group, LLC shall have an allowed claim in the amount of
$80,000.00 in the bankruptcy case of PBE Corporation, Case No. 08-46617 as Claim No. 128,
and such claim shall be entitled to priority as an expense of the administration of the Chapter 11
cases pursuant to 11 U.S.C. §§ 503(b) and 507(a) and the balance of the claim shall be
disallowed;
4. Harmer Holdings, LLC shall have an allowed claim in the amount of $45,700.00
in the bankruptcy case of PBE Corporation, Case No. 08-46617 as Claim No. 131, and such
claim shall be entitled to priority as an expense of the administration of the Chapter 11 cases
pursuant to 11 U.S.C. §§ 503(b) and 507(a), and the balance of the claim shall be disallowed;
5. The claims allowed under paragraphs 2 - 4 of this Order shall be allowed upon
entry of this order and neither Summit Technology Group, LLC nor Harmer Holdings, LLC shall
be required to file a new proof of claim or to amend any proof of claim previously filed in these
cases, provided, however, the Trustee may file such proofs of claim or requests for payment
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consistent with the Settlement Agreement as he deems appropriate for his administrative
convenience;
6. All other claims filed or asserted by Summit Technology Group in the abovereferenced
bankruptcy cases, including Claim No. 129 filed in the case of PBE Corporation in
the amount of $307,284.41, are hereby disallowed in their entirety;
7. All other claims filed or asserted by Harmer Holdings, LLC in the abovereferenced
bankruptcy cases, including Claim No. 141 filed in the case of PBE Corporation,
Case No. 08-46617 in an unknown amount, are hereby disallowed in their entirety;
8. The Trustee and World Wide Licenses, Ltd. shall execute the necessary joint
written instructions to the escrow agent at Wilmington Trust Company to disburse all funds held
in escrow pursuant to the Escrow Agreement dated March 10, 2008 by and between World Wide
Licenses, Ltd. and PBE Consumer Electronics LLC, including any interest accrued thereon, with
50% of such total funds to be paid to World Wide Licenses, Ltd. and 50% of such Escrow Funds
to be paid to the Trustee on behalf of the PCE bankruptcy estate; and
9. This Court shall retain jurisdiction to enforce the terms of the Settlement
Agreement.
Dated: ____________________ _________________________________________
Gregory F. Kishel
United States Bankruptcy Judge