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1. The facts relevant to the settlement are yet forth <br />in the Settlement Agreement attached hereto. The Settlement <br />Agreement resolves the objections brought by the Reorganized <br />Debtors against the claims filed by the Colorado Department of <br />Revenue in the Reorganized Debtors' cases. <br />2. The objection to the Department of Revenuer's <br />claims were initially brought by the Reorganized Debtors in <br />Bankruptcy Court. Because the objections required interF~retation <br />of novel issues of state tax law, this Court abstained iri favor <br />of resolution in the Colorado State Courts. <br />3. The Reorganized Debtors' objections to the: <br />Department's claims were heard by the Department and subsequently <br />by the District Court for the City and County of Denver zind the <br />District Court upheld the Department's ruling in favor a]`. the <br />Colorado Department of Revenue. <br />4. Reorganized Debtors, using their business <br />judg~ent, having litigated with the Colorado Department of <br />Revenue and having received adverse decisions and having <br />considered the likelihood of success if the matter has to <br />continue to be appealed, have determined that approval o:E the <br />Settlement Agreement is in the best interests of its estate. <br />5. The Reorganized Debtors and the Colorado <br />Department of Revenue have negotiated and entered into t11e <br />Settlement Agreement in good faith. <br />WHEREFORE, the Reorganized Debtors request that the Court <br />enter an Order: <br />2 <br />