Summary of 3/19 Omnibus Hearing Date
On March 19, 2007, the Court held an omnibus hearing addressing the following items:
1. Motion to Compel Payment of Administrative Expenses filed by Monroe Township: motion was adjourned until April 17, 2007.
2. Motion for Joint Administration: Granted, permitting all affiliates of Kara Homes that have filed petitions under Chapter 11 of the Bankruptcy Code to be jointly administered.
3. Motion for Adequate Protection, or in the alternative, for Relief from the Automatic Stay on behalf of Wells Fargo: Adjourned until April 9, 2007 however, on March 28, 2007, the leases were rejected by Consent Order.
4. Motion for entry of an order: (1) granting GE Capital Modular Space relief from the automatic stay to terminate lease agreements and recover modular units or, in the alternative, for adequate protection payments; (II) allowing and requiring payment of an administrative expense claim; and (III) requiring an accounting: Adjourned until April 9, 2007.
5. Motion to (a) compel Debtor to assume or reject Lease Agreements or, alternatively, (b) compel Debtor to perform all obligations arising from or after 60 days from the date of filing and make all future rent payments, late fees, and other charges under the Lease Agreements as they become due or, alternatively, (c) modifying the automatic stay on behalf of GE Capital Modular Space: Granted, the Debtors have until April 9, 2007 to accept or reject the leases.
6. Motion for Relief from Stay to Set-off Retainer Account on behalf of Flaster Greenberg, PC: Adjourned until April 9, 2007.
7. Motion for Relief from Stay to Terminate Contract and Proceed against Bonding Company filed by Philip Kaputa: Granted, the Contract is terminated and the Kaputas are granted relief from the automatic stay to pursue any claims they may have against the Bonding Companies.
8. Motion of John and Helen Fallone for Relief from the Automatic Stay and to Compel Arbitration: Granted, the automatic stay is vacated to permit the Fallones to resume and prosecute arbitration proceedings against the Debtors for the recovery of the $106,300 being held in escrow in connection with the incomplete construction and installation of certain items in their home.
1. Motion to Compel Payment of Administrative Expenses filed by Monroe Township: motion was adjourned until April 17, 2007.
2. Motion for Joint Administration: Granted, permitting all affiliates of Kara Homes that have filed petitions under Chapter 11 of the Bankruptcy Code to be jointly administered.
3. Motion for Adequate Protection, or in the alternative, for Relief from the Automatic Stay on behalf of Wells Fargo: Adjourned until April 9, 2007 however, on March 28, 2007, the leases were rejected by Consent Order.
4. Motion for entry of an order: (1) granting GE Capital Modular Space relief from the automatic stay to terminate lease agreements and recover modular units or, in the alternative, for adequate protection payments; (II) allowing and requiring payment of an administrative expense claim; and (III) requiring an accounting: Adjourned until April 9, 2007.
5. Motion to (a) compel Debtor to assume or reject Lease Agreements or, alternatively, (b) compel Debtor to perform all obligations arising from or after 60 days from the date of filing and make all future rent payments, late fees, and other charges under the Lease Agreements as they become due or, alternatively, (c) modifying the automatic stay on behalf of GE Capital Modular Space: Granted, the Debtors have until April 9, 2007 to accept or reject the leases.
6. Motion for Relief from Stay to Set-off Retainer Account on behalf of Flaster Greenberg, PC: Adjourned until April 9, 2007.
7. Motion for Relief from Stay to Terminate Contract and Proceed against Bonding Company filed by Philip Kaputa: Granted, the Contract is terminated and the Kaputas are granted relief from the automatic stay to pursue any claims they may have against the Bonding Companies.
8. Motion of John and Helen Fallone for Relief from the Automatic Stay and to Compel Arbitration: Granted, the automatic stay is vacated to permit the Fallones to resume and prosecute arbitration proceedings against the Debtors for the recovery of the $106,300 being held in escrow in connection with the incomplete construction and installation of certain items in their home.
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