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UNITED STATES BANKRUPTCY COURT FOR THE <br />DISTRICT OF COLORADO <br />In re: ) <br />MID- CONTINENT RESOURCES, INC. ) Case No. 92 11658 PAC <br />) <br />T.I.N. 36- 1475193 ) <br />Debtor. ) <br />Chapter 11, M.C. No. H &J -17 <br />MOTION FOR AUTHORIZATION TO SELL CARBONDALE INDUSTRIAL PARK <br />FREE AND CLEAR OF INTERESTS OF ENTITIES OTHER THAN THE ESTATE <br />Mid- Continent Resources, Inc. (the "Debtor "), through <br />its attorneys, Holden & Jessop, F.C., moves the Court for <br />authorization to sell the property known as the "Carbondale <br />Industrial Park" free and clear of any interest in such property <br />of entities other the estate with the exception of property taxes <br />and a $7,000 lien in favor of the Colorado Mined Land Reclamation <br />Board (the "NLRB "). The following is stated in support of this <br />Motion: <br />1. The Debtor filed a voluntary petition under <br />Chapter 11 of the Bankruptcy Code with this Court on February 12, <br />1992, Case No. 92 11658 PAC. <br />2. The Debtor has filed a Second Amended Plan of <br />Liquidation (the "Plan ") which was confirmed by the Court on <br />April 11, 1994. Section 6.2 of the Plan establishes a Creditors' <br />Trust which is reauired to complete the liquidation of the <br />Debtor's assets and to distribute the proceeds to the Debtor's <br />secured and unsecured creditors in accordance with the terms of <br />the Plan. <br />3. The Plan has not yet reached its "Effective Date." <br />Pursuant to the Plan, the Effective Date is the later cf (i) the <br />first business day thirty days following entry of a Final Order <br />confirming the Plan, or (ii) the first business day on which the <br />Debtor has sufficient funds to make certain cash payments <br />reauired by Section 6.1 of the Plan; in either event, no later <br />than August 1, 1994. <br />4. One group of creditors, members of the Harker <br />family, appealed the order confirming the Plan. On May 6, 1994, <br />the Court entered a preliminary stay of the April 11, 1994 <br />confirmation order pending consideration of the Harkers' motion <br />for stay pending appeal. On May 25, 1994, the Debtor and the <br />Barkers filed an advisory notice that the Barkers and third <br />parties have reached an agreement pertaining to resolution of a <br />judgment lien which the Earkers held on property not owned by the <br />