1994-06-27_GENERAL DOCUMENTS - C1981017 ‎(2)‎

• Permit No: C1981017
• IBM Index Class Name: GENERAL DOCUMENTS
• Doc Date: 6/27/1994
• Doc Name: Case 92 11658 Debtors Second Amended Plan of Liquidation
• Permit Index Doc Type: General Correspondence
• Media Type: D
• Archive: No

Iron Corporation shall be terminated in accordance with their
terms .
6 . 5 Allowance of claims. The Debtor, the Creditors '
Trustee, or the Creditor Representatives may initiate proceedings
to object to any claim on or before the Effective Date. Any claim
for which a proof of claim has been filed within any applicable
period of limitation fixed by the Court, or any scheduled claim
which is deemed filed under Section 1111 (a) of the Bankruptcy Code,
to which no objection is filed as provided in this Section shall be
deemed allowed. Any claim which is not deemed filed under Section
1111 (a) of the Bankruptcy Code and for which no proof of claim has
been timely filed shall not be treated as a claim for purposes of
distribution under the Plan, whether or not an objection to such
claim is initiated.
6.5. 1 CCIA Claim. Notwithstanding the general
provisions of Section 6 .5 of the Plan, the Debtor does
not and will not object to the claim of the Colorado
Compensation Insurance Authority, as scheduled or filed
through November 29, 1993 .
6 . 6 Voiding of Junior Liens. On the Effective Date, all
liens on the Debtor's property junior to Sanwa's liens shall be
declared void pursuant to Section 506 (d) of the Bankruptcy Code.
6.7 Subrogation Provision. If any person advances funds
to the Debtor or the Creditors ' Trust, which funds are used to make
any distribution provided under the Plan, the person advancing such
funds shall become subrogated to the position of the class or
classes of creditors receiving such funds, to the extent of funds
advanced, after all distributions to such class or classes have
been completed.
ARTICLE VII
RELEASES
7 . 1 Release of Sanwa by Debtor. In consideration of the
voluntary subordination of Sanwa's secured claims as provided in
Section 4 .2 of the Plan, confirmation of the Plan shall, upon the
Effective Date, constitute a release of all claims, if any, against
Sanwa and its officers, directors, agents, and employees, by the
Debtor, either as the Debtor or in its capacity as debtor in
possession, including claims for surcharge, subordination, or
avoidance arising under the Bankruptcy Code.
7 .2 Consensual Release Between Sanwa and Class 9 .
Acceptance of the Plan by Sanwa and by a holder of a Class 9
(general unsecured) claim shall, upon the Effective Date,
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