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;, <br />t'1' ~ ~~.,~~ <br />Anna N. Drake n <br />ALLEN NELSON HARDY 6 E9A11S 4 19 r~ ~J~ <br />Attorneys foe Tracy Olen Clanton j;pp lL <br />215 South State, Suite 900 <br />Salt Ia ke City, Utah 84111 xal~'~, , <br />Telephone: (801) 571-8400 Cl _ <br />of plint~ " <br />IN THE UNITED STATES OANLOlUPfCY COURT <br />POR THE DISTRICT OF UTAH <br />Central Div 161on <br />In re ) Bankruptcy No. 90B-06729 <br />Chapter 11 <br />C.F. iI. STEEL COItP'OAATION, ) <br />STIPULATION FOR <br />Debto[. } HODIPICATION OF <br />AVTOHATIC STAY <br />C.F.cI. Steel Corporation (hereinafter the "C. F.cI." or the <br />Debtor), by end through its couns¢1, Steven J. HcCard¢11 of <br />LeBOeuf, iamb, Le1by i HacAae, end Tracy Clen Clanton (hereinafter <br />"Clanton"), by and through hie counsel, Annn w, Drake of Allen <br />Nelson Hardy i Evens, represent end stipulate ee Lollows: <br />RECITALS: <br />A. The above-named Debtor Cited a petl tlon for relief under <br />Chapter 11 of the United Stetea Bankruptcy Code on November 7, <br />1940. The Debtor currently serves es Debtor-Sn-Possession. <br />B. This Court hoe jurisdiction over Chis case pursuant to 29 <br />V.S.C. S 17]4, end this Ss a core proceeding within the meaning of <br />28 U.S.C. { 197(b)(2)(G). <br />C. On or about May 7, 1990, Clanton filed en action in the <br />Dlstilct Court of Gregg County, Texas, 124th Judicial District, <br />captioned Tracv Glen Clanton v. C. F.6I., Cause No. 90-977-8 <br />(hereinafter the "Action"). A copy of Plaintiff's Original <br />Petition Ss attached hereto as Exhlblt ^A" and incorporated herein <br />by ref¢zence. <br />O. The Action is a personal injury action Sn which Clanton <br />claims that, while utilizing a def¢ctlve product manufactured and <br />marketed by the Debtor, Clanton sustained severe damage to one eye <br />end hoe hecome permanently b1lrMed in that eye. <br />E. On or about November 21, 1990, counsel for C. P.iI. filed <br />e plea in Abatement in the Action based upon the provisions of 11 <br />U,S. C, ~ 762. <br />F. Pursuant to Plaintiff's Response to Defendant's Plea Sn <br />Abatement filed on or about December 19, 1990, Clanton agreed to <br />look solely to the applicable liability insurance policy end <br />C. P.iI.'s insurance carriers for 6atiefaction of any settlement or <br />judgment arising out of the Action. Clanton does not seek retie[ <br />Lrom the eutomntic stay for the purpose o[ pursuing a claim <br />' directly egainat C. P. iI. <br />G. The parties desire to allow a modlflcat ion of the <br />' automatic atey Smpoaed by 11 V,S.C, ~ 762. <br />i <br />NON, THEREFORE, in consideration of the promises set forth <br />~ herein, C.F.LI. Steel Corporation and Tracy Glen Clanton agree as <br />follova: <br />1. The automatic stny imposed by 11 U.S.C. i 762 shall be <br />I <br />mod if led for the purpose of allowing Tracy Glen Clanton to continue <br />hie action against the above-named Debtor in the District Court of <br />Gregg County, Texas, 124th Judicial District, captioned Tracv Glen <br />~ Clanton v. C.F.6I., Cause No. 90-977-B; <br />2 <br />