Docket #4603 Date Filed: 2/18/2010

IN THE UNITED STATES BANKRUPTCY COTJRT FOR THE DISTRICT OF DELAWARE

In re:
MERVYN'S HOLDINGS, LLC, 9! 4,t
Debtors.

)
) )

Chapter

11

)
)

Case No. 08-11536

(KG)

(/

Jointlv Administered

)u/r/-r//
as

ORDER APPROYING STIPULATION FOR ALLOWA}ICE Ai\ID PAYMENT OF ADMINISTRATIVE EXPENSE CLAIM OF LIQTIIDITY SOLUTIONS, INC. (TRANSFEREE OF PEARL GLOBAL LTD.)

AND NOW, upon consideration of the Stipulation attached hereto

cause appearing for the approval thereof,

Exhibit A, and good

it is hereby:

ORDERED, that the Stipulation is APPROVED; and it is turther ORDERED, the Court shall retain jurisdiction over the implementation and enforcement of the Stipulation and this Order.

,I<^;
THE HONORABLE GROSS UNITED STATES BANKRUPTCY JUDGE

' The Debtors in these cases, along with the last four digits of their federal tax identification numbers, are Mervyn's Holdings, LLC (3405), Mervyn's LLC (4456) and Mervyn's Brands, LLC (8850).
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EXHIBIT A

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IN THE UNITED STATES BAIIKRUPTCY COURT FOR THE DISTRICT OF DELAWARE

In

re: Debtors.

)
4L,t )
)
)
)

Chapter

11

MERVYN'S IIOLDINGS, LLC, 4

Case No. 08-11586

(KG)

Jointly Administered

STIPULATION FOR ALLOWAIICE Ai\D PAYMENT OF ADTvIINISTRATIVE EXPENSE CLAIM OF LIQUIDITY SOLUTIONS,INC. ORANSFEREE OF PEARL GLOBAL LTD.) Liquidity Solutions, Inc. ("Liquidity''),
as transferee

of Pearl Global Ltd. ("Pearl")

and
as

the above-captioned debtors and debtors in possession (the "&b1!org,") hereby stipulate
follows:

RECITALS

A.
Claim").

Within the twenty days prior to July 29, 2008 (the "Petition Date"), Pearl

provided the Debtors with goods in the aggregate amount of $147,622.80 (the "Twenty-day

B. C. D. l.

Pearl timely filed a proof of claim (Claim No. 4697) seeking, irmong other things,

payment of such amount.

On or about January 27,2010, Pearl transferred the administrative priority portion

of Claim No. 4697 in the amount of $L47,622.80 to Liquidity Solutions, Inc. fDocket No. 4524].
The Debtors and Liquidity HEREBY STIPULATE AND AGREE as follows:

AGREEMENT
The Recitals are true and correct and are incorporated herein by reference.

' The Debtors in these cases, along with the last four digits of their federal tax identification numbers, are Merqm's Holdings, LLC (3405), Mervyn's LLC (4456) and Mervyn's Brands, LLC (8850).
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2. 3.

This Stipulation is subject to Bankruptcy Court approval and shall be of no force

and effect unless and

until approved by the Bankruptcy Court.

On account of the Twenty-day Claim, Liquidity (as transferee of Pearl) shall be

allowed an administrative expense claim against Mervyn's LLC pursuant

to 1l

U.S.C.

503(bX9) in the amount of $147,622.80 (the "Allowed Claim"). The Allowed Claim shall not be
subject to further reduction, offset, setofl reclassification or disallowance pursuant to
$ 502(d) or otherwise.

l1 U.S.C.

4.

Payment of the Allowed Claim shall be paid as follows: (i) in the event that, prior

to confirmation of any chapter 11 plan, the Debtors make payments to any creditors on account of any administrative expenses pursuant to I I U.S.C. $ 503(bX9) arising from goods provided to

the Debtors within the twenty days prior to the Petition Date, Liquidity shall be entitled to
receive payment on similar terms on account of the Allowed Claim at Liquidity's option or (ii) in the event that, prior to confirmation of any chapter 1l plan, the Debtors do not make payments to

any creditors on account of administrative expenses pursuant to 11 U.S.C. $ 5030)(9) arising

from goods provided to the Debtors within the twenty days prior to the Petition Date, or in the
event that in accordance with clause

(i) of this paragraph Liquidity declines to receive earlier

payment, Liquidity shall be entitled to payment on account of the Allowed Claim in accordance

with the terms of the chapter I 1 plan ultimately confirmed in these chapter I 1 cases and on the
effective date of such plan.

5.

This Stipulation shall be binding upon

(i)

any liquidating trustee; plan

administrator; distribution agent and/or any other responsible person appointed pursuant to any chapter 11 plan confirmed in these cases;
and./or

(ii) any chapter 11 trustee appointed in

these cases

(iii) any chapter 7 trustee appointed or elected in these cases.

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,2010 Wilmingfon, Delaware

Norman

M. Samis (No. a909) L. Katherine Good (No. 5101) RICHARDS, LAYTON & FINGER, P.A.
One Rodney Square 920 North King Street

Wilmington, Delaware I 9801 Telephone: (302) 651 -7700 Facsimile: (302) 651-7701 Email: collins@lf.com defranceschi@rlf.com samis@lf.com good@lf.com
and

ld Liquidity Solutions, Inc., as transferee of Pearl Global Ltd. One University Plaz4 Suite 312 Hackensack, NJ 07601 Telephone: (201) 968-0001 xl26 Facsimile: (201) 968-001 0 Email: nschoenfeld@liquiditysolutions. com
Counsel to Liquidity Solutions, Inc.

Howard S. Beltzer Wendy S. Walker MORGAN, LEWIS & BOCKIUS LLP l0l Park Avenue New York, New York 10178-0060 Telephone: (212) 309-6000 Facsimile: (212) 309-6001 Email : hbeltzer@morganlewis. com wwalker@morganlewis. com
Attorneys

for the Debtors and Debtors in Possession

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