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GENERAL35512
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Last modified
8/24/2016 7:56:27 PM
Creation date
11/23/2007 8:21:45 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1977376
IBM Index Class Name
General Documents
Doc Date
3/8/1993
Doc Name
NOTICE DATED 3/5/93 OF MUTUAL RELEASE & SETTLEMENT AGREEMENT BETWEEN CF&I STEEL CORP & HONNEN EQUIP
Media Type
D
Archive
No
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~STTIA T. RT`T.T`ACF. ANTI CFTTT.FMFNT LP_DFFMFNT <br />This Mutual Release and Settlement Agreement ("this <br />Agreement") is entered into between the CF6I Steel Corporzition, a <br />reorganized debtor ("CF6I") on the one hand, and Honnen <br />Equipment, Inc. ("Honnen Equipment") on the other, and pravi~des <br />as follows: <br />WHEREAS, on November 7, 1990, CFBI filed in the United <br />States Bankruptcy Court for the District of Utah (the "Bankniptcy <br />Court") a petition in bankruptcy pursuant to Chapter it of the <br />United States Code; <br />WHEREAS, on February 17, 1992, CF&I filed a complaint under <br />11 U.S.C. g 549 instituting an adversary proceeding against <br />Honnen Equipment (the "Adversary Proceeding"); <br />WHEREAS, CF&I alleged in the Adversary Proceeding that <br />Honnen Equipment had received an unauthorized and therefore <br />avoidable post-petition transfer from the CF&I estate in the <br />amount of 526,614.41; <br />WHEREAS, Honnen Equipment has filed an answer in the <br />Adversary Proceeding and denied any liability to CF&I on account <br />of the facts alleged in the complaint filed in the Adversary <br />Proceeding; <br />WHEREAS, CF&I and Honnen Equipment wish to avoid furtY.~er <br />litigation in this matter and to settle the Adversary ProcE:ed.ing <br />on the terms set forth below; <br />NOW THEREFORE, for good and valuable consideration, the <br />sufficiency and receipt of which are hereby acknowledged, CFI <br />and Honnen Equipment agree as follows: <br />1. Upon approval of this Agreement by the Bankruptcy <br />Court, Honnen Equipment shall pay to CF&I the sum of $19,OOD.00 <br />in good and readily available funds (the "Settlement Payment"). <br />2. Honnen Equipment shall not be entitled to assert ~s <br />claim against the CF62 estate as a result of making the <br />Settlement Payment. Honnen Equipment hereby agrees that it will <br />not assert such a claim. <br />3. Honnen Equipment hereby releases CF6I and its <br />bankruptcy estate from any and all obligations, indebtedness;, <br />liability, causes of action, damages, claims or demands <br />whatsoever, whether or not presently known or suspected, due or <br />undetermined, which arise in or in any way relate directly or <br />indirectly to the Adversary Proceeding. <br />
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