From i-Hub board:
This just in
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF LOUISIANA
IN RE: PHOENIX ASSOCIATES * CASE NO. 09-11743
LAND SYNDICATE, INC., *
* CHAPTER 7
DEBTOR *
__________________________________________* SECTION “B”
ORDER
The Motion for Approval of Compromise (Doc. 188) (the “Motion”) came for hearing on
the 16th day of June, 2010. Mark S. Goldstein appeared as counsel on behalf of Wilbur J. “Bill”
Babin, Jr., the Trustee.
Considering the Motion, the letter filed by Edgar W. Turner, III (Doc. 190), the Objection
filed by Highground (Doc. 191), the record, and the arguments of counsel, and finding for
reasons orally assigned that the compromise set forth in the Motion is in the best interests of the
Bankruptcy estate;
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the Motion is
granted, and that the compromise between Wilbur J. Babin, Jr., in his capacity as Chapter 7
Trustee of the Bankruptcy Estate of Phoenix Associates Land Syndicate, and Ronald L.
Blackburn, whereby the Trustee will be granted a Consent Judgment against Ronald L.
Blackburn in the amount of one million three hundred thousand dollars ($1,300,000.00) in
Adversary No. 09-01130, subject to the terms and conditions described in the Forbearance
Agreement (attached as Exhibit 1), is APPROVED;
______________________________
Jerry A. Brown
______________________________
Jerry A. Brown
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Wilbur J. “Bill”
Babin, Jr. is authorized and empowered to take all necessary acts to carry out and implement the
compromise.
New Orleans, Louisiana, June 16, 2010.