Laserfiche WebLink
SETT LENE NT AGREEMENT AND RE LEAeL <br />DATE: December 15, 1997 <br />PARTIES: Trinidad Ra ilvay Inc. <br />16 E. G[an ate <br />ButtB, Montana 59701 <br />("TRI")% and <br />Reorganized CLM Rallvay Company <br />1221 So. Prairie Avenue <br />Pueblo, Colorado 91005 <br />{"C6N") <br />TRI and CLN ere sometimes collectively re [erred to herein as the <br />"pa rtlea •. <br />EXHIBIT "A" <br />1. SRI end The Co larado i Nyominq Rellvey Company, a Debtor <br />under Subchapter iv of Chapter 11 of the United eta tee eankrvptcy <br />Code entered Into an Asset Purchase Agreement dated October 27, <br />1992 under vh lch TRI purchased certain of The Colorado i Nyom ing <br />Rallvay Company's railroad equipment, machinery [Tack and related <br />property rlghta located in Les Mimae County, Colorado. <br />2. CLM le the r¢organited debtor responsible for admintstering <br />and completing the llqu SdntLon oL the Chapter 31 eatete of The <br />Colorado c Nyoning Re ilvay Campeny pursuant to a Joint Plan of <br />Reorganize tlon confirmed 6y [he Bankruptry Court fot the District <br />of Vtah (the ^COUrt") on February 12, 1997 in the jointly <br />adman letered bankruptcy case In re• CPiT Fabricators of Uteh <br />Inc.. Case No. 90B-6721, end Epee if ically in case for Tne <br />Colorado L Nyoming Rallvay Company, Casa No. 9oB-6770 (the <br />"Bankruptcy Ceee"). <br />7. A dispute has arlaen between TRI and CLN concerning <br />l lability and reapons lb 111ty for possible soil end water <br />contam inetion vh lch bee been discovered on the propertlee TPI <br />purchased. <br />s. On Apr11 2, 1997, TRI flied a Request !or Payment of <br />Adman Setrat lva Ezpenae under Secttona 507 (b)(1) and 507 (a)(1) o[ <br />the eankruptcy Code (the "Adman Latrntiva Claim") in the <br />Bankrvptry Casa. The Adminietretive Cle lm !a pending ea of the <br />dote hareo! end seeks the payment to TRI ee an edminiet reClve <br />expense the coats of investlgeting, ateb11is1nq and tamed Se ling <br />environmental damage reeultlnq from the soil end va ter <br />conteminat ion. <br />5. Although C6N has not C1led an abjection to the <br />Adman isttat ive Claim, C6N has lnCormed TRS chat C8N would file <br />EXHIBIT "A" <br />