Attached files
| file | filename |
|---|---|
| EX-99.1(A) - EXHIBIT 99.1(A) - QSGI INC. | ex99-1a.htm |
| EX-99.1(C) - EXHIBIT 99.1(C) - QSGI INC. | ex99-1c.htm |
| EX-99.1(F) - EXHIBIT 99.1(F) - QSGI INC. | ex99-1f.htm |
| EX-99.1(I) - EXHIBIT 99.1(I) - QSGI INC. | ex99-1i.htm |
| EX-99.1(E) - EXHIBIT 99.1(E) - QSGI INC. | ex99-1e.htm |
| EX-99.1(D) - EXHIBIT 99.1(D) - QSGI INC. | ex99-1d.htm |
| EX-99.1(B) - EXHIBIT 99.1(B) - QSGI INC. | ex99-1b.htm |
| EX-99.1(H) - EXHIBIT 99.1(H) - QSGI INC. | ex99-1h.htm |
| 8-K - QSGI INC. FORM 8-K - QSGI INC. | qsgi8k.htm |
Exhibit 99.1(g)
Case
09-23658-EPK Doc 259 Filed 05/27/10 Page 1 of 3
ORDERED
in the Southern District of Florida on May 27, 2010.
--------------------------------------------------------------------
Erik
P. Kimball, Judge
United
States Bankruptcy Court
|
UNITED
STATES BANKRUPTCY COURT
|
|
SOUTHERN
DISTRICT OF FLORIDA
|
|
WEST
PALM BEACH DIVISION
|
|
In
re:
|
Chapter
11 Cases
|
|
QSGI,
INC.,
|
Case
No.: 09-23658-EPK
|
|
QSGI-CCSI,
INC.
|
Case
No.: 09-23659-EPK
|
|
QUAL
TECH SERVICES GROUP, INC.
|
Case
No.: 09-23660-EPK
|
|
Debtors.
|
|
|
______________________/
|
Jointly
Administered
|
ORDER
APPROVING EXPEDITED AMENDED JOINT MOTION FOR APPROVAL
OF
SETTLEMENT AGREEMENT BETWEEN DEBTORS AND VICTORY PARK
MANAGEMENT, LLC PURSUANT TO
FED.R.B.P. 9019 (D.E. 233)
THIS
MATTER came before for hearing on May 13, 2010 upon QSGI, Inc., QSGI-CCSI, Inc.
and Qualtech Services Group, Inc. (the "Debtors") and Victory Park
Management, LLC's ("Victory
Park") Expedited
Amended Joint Motion for Approval of Settlement Agreement Between Debtors and Victory Park
Management, LLC Pursuant to Fed.R.B.P. 9019 (the "Motion") (D.E. 233). The
Court, having reviewed the Motion, the Settlement Agreement', having considered
the argument of counsel, noting that no objections have been filed or
raised,
__________________________
1 All capitalized terms shall have
the meaning ascribed to them in the Motion unless otherwise noted
herein.
Case
09-23658-EPK Doc 259 Filed 05/27/10 Page 2 of 3
hereby
ORDERS
and ADJUDGES as
follows:
1.The Motion is GRANTED.
2. The Settlement Agreement is
APPROVED
with the following modifications:
a. Victory
Park's secured claim with respect to QSGI's corporate shell is reduced to and allowed in an amount equal to
$150,000 regardless of whether the Debtors file a Chapter 11 plan or have same
confirmed.
b. The
Debtors requirement under section 3(a) of the Settlement Agreement to pay Victory Park up to $10,000 for
costs incurred in connection with obtaining and finalizing this Order is
waived in its entirety.
3. The Parties shall be bound by
the terms of the Settlement Agreement and shall
execute all reasonable documents required to
effectuate its terms.
4. Liberty Insurance Underwriters,
Inc. (or any other applicable insurance carrier of the Debtors) is authorized to pay the
Settlement Amount to Victory Park pursuant to the terms of the Settlement
Agreement.
5. The Court approves the
Debtors' release in favor of the insurer with respect to the
claims of
Victory Park.
6. Notwithstanding provisions of
the Settlement Agreement and the Motion referring
to the
potential filing of a chapter
11 plan by the Debtors,
the Court has not made any
determination regarding the
confirmability of any plan that may be filed, and the all rights of creditors of the Debtors and all
parties in interest are expressly preserved and reserved in respect of
any such plan.
6. The Bankruptcy Court
shall retain jurisdiction over the Parties to enforce the provisions
of the Settlement Agreement.
2
Case
09-23658-EPK Doc 259 Filed 05/27/10 Page 3 of 3
###
SUBMITTED
BY:
John E.
Page, Esq.
Shraiberg,
Ferrara & Landau, P.A.
Counsel
for Debtors
2385 N.W.
Executive Center Drive, Suite 300 Boca Raton, Florida 33431
Telephone:
(561) 443-0800
Facsimile:
(561) 998-0047
Copy to: John E.
Page, Esq., 2385 NW Executive Center Dr., Suite 300, Boca Raton, FL 33431.
[Attorney Page is directed to serve a copy of this Order upon all interested
parties.]
3