Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 46 views

    In The United States Bankruptcy Court Eastern District of Michigan Southern Division

    Uploaded by

    Chapter 11 Dockets
    This document is a stipulation between Collins & Aikman Corporation (C&A), the prepetition agent, Chrysler LLC, and General Motors Corporation regarding various customer agreements and C&A's bankruptcy plan. It clarifies that the plan and confirmation order do not alter or affect any payment obligations between the parties under existing customer agreements. It also stipulates that the court will retain jurisdiction over any disputes arising from the stipulation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd

    In The United States Bankruptcy Court Eastern District of Michigan Southern Division

    Uploaded by

    Chapter 11 Dockets
    46 views6 pages
    This document is a stipulation between Collins & Aikman Corporation (C&A), the prepetition agent, Chrysler LLC, and General Motors Corporation regarding various customer agreements and C&A's bankruptcy plan. It clarifies that the plan and confirmation order do not alter or affect any payment obligations between the parties under existing customer agreements. It also stipulates that the court will retain jurisdiction over any disputes arising from the stipulation.

    Original Title

    10000028067

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document is a stipulation between Collins & Aikman Corporation (C&A), the prepetition agent, Chrysler LLC, and General Motors Corporation regarding various customer agreements and C&A's bankruptcy plan. It clarifies that the plan and confirmation order do not alter or affect any payment obligations between the parties under existing customer agreements. It also stipulates that the court will retain jurisdiction over any disputes arising from the stipulation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    46 views6 pages

    In The United States Bankruptcy Court Eastern District of Michigan Southern Division

    Uploaded by

    Chapter 11 Dockets
    This document is a stipulation between Collins & Aikman Corporation (C&A), the prepetition agent, Chrysler LLC, and General Motors Corporation regarding various customer agreements and C&A's bankruptcy plan. It clarifies that the plan and confirmation order do not alter or affect any payment obligations between the parties under existing customer agreements. It also stipulates that the court will retain jurisdiction over any disputes arising from the stipulation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 6

    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 BY AND AMONG THE DEBTORS, THE PREPETITION AGENT, CHRYSLER LLC AND GENERAL MOTORS CORPORATION This Stipulation is entered into by and among: (a) Collins & Aikman Corporation and its debtor affiliates (C&A or the Debtors); (b) JPMorgan Chase Bank, N.A., as administrative agent for the prepetition senior secured lenders (the Prepetition Agent); (c) Chrysler LLC f/k/a DaimlerChrysler Company, LLC (for itself, DaimlerChrysler Canada, Inc. and

    DaimlerChrysler Motor Company, LLC) (Chrysler); and (d) General Motors Corporation (for itself, GM de Mexico S. de R.L. de C.V. and GM of Canada Limited) (GM) (Chrysler and GM

    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.

    K&E 12046709.8

    0W[;'*(

    0555927071008000000000002

    ";

    are collectively referred to herein as the OEMs), through their respective counsel regarding the Customer Agreement, the Post-June 30, 2007 Customer Agreement, the Plan and the Confirmation Order (each as defined below). WHEREAS, on May 17, 2005, the Debtors filed their voluntary petitions for relief under chapter 11 of the Bankruptcy Code, 11 U.S.C. 101-1330 (the Bankruptcy Code), in the United States Bankruptcy Court for the Eastern District of Michigan (the Bankruptcy Court); WHEREAS, on July 18, 2007, the Court entered an order [Docket No. 7827] (the Confirmation Order) confirming the First Amended Joint Plan of Collins & Aikman Corporation and Its Debtor Subsidiaries [Docket No. 7731] (the Plan); WHEREAS, on January 11, 2007, the Bankruptcy Court approved on a final basis that certain customer agreement by and between the Debtors, the Prepetition Agent, the agent for the Debtors senior, secured postpetition lenders and certain of the Debtors major customers [Docket No. 3890] (the Customer Agreement); WHEREAS, on June 29, 2007, the Bankruptcy Court approved that certain customer agreement by and between the Debtors, the Prepetition Agent, Chrysler and GM [Docket No. 7673] (the Post-June 30, 2007 Customer Agreement); WHEREAS, on May 21, 2007, the Bankruptcy Court approved that certain Agreement Regarding Insolvency Proceedings for the Canadian Plastics Subsidiaries of Collins & Aikman Corporation by and between the Debtors, the Prepetition Agent and Chrysler [Docket No. 7288] (the Canada Funding Agreement); WHEREAS, the Debtors and one or more of the OEMs may hereafter enter into agreements providing for the continued operation of one or more of the Debtors facilities after September 30, 2007 or for the provision of transition or other services for periods that may

    2
    K&E 12046709.8

    extend after the effective date of the Plan (such agreements, together with the Customer Agreement, the Post-June 30, 2007 Customer Agreement and the Canada Funding Agreement, the Covered Agreements); WHEREAS, the Covered Agreements provide for certain payment obligations by and among the OEMs and the Debtors that are likely to be determined and/or payable after the effective date of the Plan, including, without limitation, certain reconciliation obligations to be performed by and among the OEMs and the Debtors under the Customer Agreement and the Post-June 30, 2007 Customer Agreement; and WHEREAS, Article XII.B of the Plan provides for certain mutual releases by and among the OEMs and the Debtors. IT IS HEREBY STIPULATED AND AGREED as follows: 1. Notwithstanding anything to the contrary in the Plan or the Confirmation Order,

    nothing in the Plan or the Confirmation Order shall release, alter, modify, amend or affect any reconciliation or payment obligations of the Debtors or the OEMs set forth in any Covered Agreement, including, without limitation, any reconciliation or payment obligations in connection with the true-ups required thereunder. 2. Except as expressly set forth in paragraph 1 of this Stipulation, nothing in this

    Stipulation is intended or shall be construed to alter, modify, amend or affect the releases granted to GM and Chrysler in the Plan. 3. Except as otherwise set forth in this Stipulation, the Plan and the

    Confirmation Order shall remain in full force and effect. 4. The Bankruptcy Court shall retain jurisdiction (and the parties hereto consent to

    such retention of jurisdiction) to resolve any disputes or controversies arising from this

    3
    K&E 12046709.8

    Stipulation. Any request for relief brought before the Bankruptcy Court to resolve a dispute arising from this Stipulation shall be brought on proper notice and in accordance with relevant Federal Rules of Bankruptcy Procedure and Local Rules for the Bankruptcy Court. 5. Each person who executes this Stipulation on behalf of a party hereto represents

    that he or she is duly authorized to execute this Stipulation on behalf of such party. 6. This Stipulation may be executed in multiple counterparts, any of which may be

    transmitted by facsimile, and each of which shall be deemed an original, but all of which together shall constitute one instrument. 7. This Stipulation shall not be modified, altered, amended or vacated without

    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. 8. The terms and conditions of this Stipulation shall be immediately effective and

    enforceable upon the entry of an order by the Bankruptcy Court approving this Stipulation.

    [Remainder of page intentionally left blank.]

    4
    K&E 12046709.8

    STIPULATED AND AGREED: Dated: October 8, 2007 KIRKLAND & ELLIS LLP /s/ Scott R. Zemnick Richard M. Cieri (NY RC 6062) Citigroup Center 153 East 53rd Street New York, New York 10022 Telephone: (212) 446-4800 Facsimile: (212) 446-4900 -andWACHTELL, LIPTON, ROSEN & KATZ David L. Eaton (IL 3122303) Ray C. Schrock (IL 6257005) Scott R. Zemnick (IL 6276224) 200 East Randolph Drive Chicago, Illinois 60601 Telephone: (312) 861-2000 Facsimile: (312) 861-2200 -andCARSON FISCHER, P.L.C. Joseph M. Fischer (P13452) 4111 West Andover Road West - Second Floor Bloomfield Hills, Michigan 48302 Telephone: (248) 644-4840 Facsimile: (248) 644-1832 Co-Counsel for the Debtors Harold S. Novikoff 51 West 52nd Street New York, New York Telephone: (212) 403-1000 Co-Counsel for JPMorgan Chase Bank, N.A., as Prepetition Agent DYKEMA GOSSETT PLLC /s/ Ronald L. Rose Ronald L. Rose (P19621) Brendan G. Best (P66370) 400 Renaissance Center Detroit, Michigan 48243 Telephone: (313) 568-6553 -and-

    K&E 12046709.8

    HONIGMAN MILLER SCHWARTZ AND COHN LLP /s/ Tricia A. Sherick Robert B. Weiss (P28249) Tricia A. Sherick (P60384) 2290 First National Building 660 Woodward Avenue Detroit, Michigan 48226 Telephone: (313) 465-7596 Counsel for General Motors Corporation

    DICKINSON WRIGHT PLLC

    /s/ James A. Plemmons James A. Plemmons (P42892) 500 Woodward Avenue Suite 4000 Detroit, Michigan 48226 Telephone: (313) 223-3500 Counsel for Chrysler LLC

    K&E 12046709.8

    You might also like