GENERAL44535

• Permit No: M1977376
• IBM Index Class Name: General Documents
• Doc Date: 7/6/1993
• Doc Name: CERTIFICATE OF SERVICE
• Media Type: D
• Archive: No

"Governing Provisions") vara edopted, vhlch providod a ma nagement
structure Lor [hm Reorganlxed Debtors. A copy o[ the Governlnq
Provlslons vas ettachod as Exh lblt 1 to the Con Clrmation Order end
." ..ttachod h_reto as Exhf 6lt ^A^.
5. Tha Governlnq Prov talons become affective March 7, 1997.
6. Pursuant to paraq reph 3 oC the Governing Provlsione , the
Raorganlxed Debtare usrm to be managed by a Raorganized Crad hors'
Comnlttae made up o[ repraeeneetlva• of Flrena n'e Fund Insurance
Company ("Flrena n•e Fund"), Luria Brothers Dlvl slon, Lcd. 1•'LUrla")
and Prexeir, Inc. ("Prexa lr").
7. Because o[ eha coneldarsbl• time demands and •f Cort
required by Comnlt tee Xamhers, Lur!• resigned Its position es a
Comnlttae Mombo r, o[(ect lve April 70, 1997.
8. Tha Reorganlxed Crad Mora' Committee vac contacted by the
principal of a creditor the[ oxpro uatl lntercoc in w•rvi nq on the
Reorqanl zed Credjto re' Committee ae a replacement to Luria,
hovevcr, shorU y tharoa[ter [ho lnd lvldual uas dlaynoueJ vlth a
6lrl¢u6 ll1n066, dnd Ch0r0 LO ra Vdi unable CO GCI'V C.
9. Another member, Plremen'^ Fund, also had expressed !ts
concern about the time and expanse 1t vas lncurriny Its a member of
the Reorganized Creditors' Comm!ttee. In addition, t'i rem.In•s Fund
recently reached a [entatlve sett lemon[ agreement vi[h Hcuryanlzed
CFGI in connection with litlga Lion egalnet Fireman's fund and
others, uhlch cettlament Ss subject to Court approval. As part of
rh¢ tentative eettlanant, Flrena n'e Fund agreed co ulthdrev all of
its cla lma egelnet [ha Reorganlzed Dabtore. Fireman's Fund gave
notice a( lta raelgnaC Son from the Reorganlzad Creditors'
Committee, effect lve dune 15; 199].
10. Prior to Juna 15, 199], [he membece o[ [he Reorganized
Creditors' Comnlttae, and lte advisors, concluded that the currant
manegenen[ structure 1• !na [[lc lent and cunbereome Lor overeealnq
the day to dey opera tl one sntl llquldetlon o[ the Reorganlxed
De Dtora' assets.
11. Vursuan[ [o pa ragrsph 51 0l the plan, and pa regraph 9 0[
Cliu Governlnq Provlslone, the Court Ilse )urladlctlon to enter
m~,len In aid o[ tM gove rna nee of the H¢orgenlzed Debtors,
un•IUJ Iny a moJlf lcatlon or cha nqv In [hv Im m of governance of
aa:h u1 the Haorganlrad Dc Lto rm.
It. bn June Ia, 19Y 1, the Ncurynnl n•J rl uJ Mora' Committee
nJu pt rJ Hev teed PFOVIa IOIIa fur 1'ucl -Ellett lvu llatC GOW rna nee Ot
the HBOryanli0d Dobtar a, • Copy ul vhlCh IY at6a toad nareto ae
I.x III LIt ^U".
uacod on the [oragolnq, the Hoorganlzcd Dubtore reapoctfully
i equeut that [ho Court en tar an urJur GI's ntlny Moclon (or Approval
ul HuvlmcJ 1'rovleloro for Poat-Elt¢ct iv¢ Unto Govorna nos al the
iwv nlanlroJ U¢b[oY •.
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