Docket #4569 Date Filed: 2/4/2010

IN THE UNITED STATES BAI\KRUPTCY COURT FOR THE DISTRICT OF DELAWARE

In re:
MERVYN'S HOLDINGS, LLC,et al,r
Debtors.

)
) )

Chapter

11

) )

Case No. 08-11586

(KG)

Jointly Administered

ORDER APPROYING STIPULATION FOR ALLOWAIICE AND PAYMENT OF ADMI|USTRATM EXPENSE CLAIM OF LIQUIDITY SOLUTTONS, INC. ffRANSFEREE OF JJ BASICS LLC)

& Errl46d

AND NOW, upon consideration of the Stipulation attached hereto

cause appearing for the approval thereof,

as

Exhibit A, and good

it is hereby:

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

,2010
Wilmington, Ddlaware

The Debtors in these cases, along with the last fow digits of their federal tax identification numbers, are Mervyn's Holdings, LLC (3405), Mervyn's LLC (4456) and Mervyn's Brands, LLC (8350).
DBt/63709109.3 RLF1 3534927v.1

0q/v*"$ (@ 0811586100204000000000008

EXHIBIT A

DBl/63709109.3

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IN THE I]MTED STATES BAI\KRUPTCY COURT FOR THE DISTRICT OF DELAWARE

In

re: Debtors.

)
) ) )

Chapter

11

MERVYN'S HOLDINGS, LLC, et al.,r

) )

Case No. 08-11536 (KG)

Jointly Administered

STIPULATION FOR ALLOWAI\CE AI\D PAYMENT OF ADMINISTRATIVE EXPENSE CLAIM OF LIQUIDITY SOLUTIONS, INC. ORANSFEREE OF JJ BASICS LLC)
Liquidity Solutions, Inc. ("Liquidity''), as transferee of JJ Basics LLC ("JJ Jasics") and

the above-captioned debtors and debtors in possession (the "Debtors") hereby stipulate
follows:

as

RTCITALS

A. B. C. D. 1. 2.

On or after July 29,2008 (the "Pe!i!ion_Date"), JJ Basics provided the Debtors

with goods in the aggregate gross amount of $66,487.13.

On or about January 9,2009, JJ Basics timely filed a proof of claim (Claim No.

5230) seeking, among other things, payment of such amounts (the "claim").

On or about June 5, 2009, JJ Basics transferred the Claim in the amount of

$69,957.00 to Liquidity [Docket No. 3447]. The Debtors and Liquidity HEREBY STIPULATE AND AGREE as follows:

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

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

and effect unless and until approved by the Bankruptcy Court.

' The Debtors 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 (gg50).
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3.

Liquidity (as transferee of JJ Basics) shall be allowed an administrative expense

claim against Mervyn's LLC on account of the Claim pursuant to

1l U.S.C. $$ 503(b)(l)

and

507(a)(2) in the amount of $66,487.13 (the "Allowed Administrative Expense Claim"), which

Allowed Administrative Expense Claim shall not be subject to further reduction, offset, setoff,
reclassification or disallowance pursuant to 1l U.S.C. $ 502(d) or otherwise.

4.

Payment of the Allowed Adminishative Expense 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

11 U.S.C. $ 503(bX1)

arising from goods delivered on or after the Petition Date, Liquidity shall be entitled to receive

payment on similar terms on account

of the Allowed Adminishative

Expense Claim at

Liquidity's option or (ii) in the event that, prior to confirmation of any chapter 11 plan, the
Debtors do not make payments to any creditors on account of administrative expenses pursuant

to 11 U.S.C. $ 503(bX1) arising from goods delivered to the Debtors, 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 Administrative Expense Claim

in accordance with the terms of the chapter

cases and on the effective date

plan ultimately confirmed in these chapter

11

of such plan.

5.

This Stipulation shall be binding upon (D any liquidating trustee; plan

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

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

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Dated:

61,/**u 3

,2010 Wilmin$on, Dela

Christopher M. Samis (No. 4909) L. Katherine Good (No. 5101)

Liquidity Solutions, Inc., as transferee of JJ Basics LLC

One University plaza, Suite 312 Hackensack, NJ 07601 Telephone: (201) 968-0001 xl26 Facsimile: (201 ) 968-00 I 0 Email: nschoenfeld@l i quidityso lutions.com Counsel to Liquidity Solutions, Inc.

RICHARDS, LAYTON & FINGER, P.A.

One Rodney Square 920 North King Street

Wilmington, Delaware I 9801 Telephone: (302) 6St -7700 Facsimile: (302) 651-7701 Email : collins@rlf.com defranceschi@rlf.com samis@rlf.com good@rlf.com
and

Howard S. Beltzer Wendy S. Walker MORGAN, LEWIS & BOCKIUS LLP l0l Park Avenue New York, New York 10178-0060 Telephone : (212) 3 09-6000 Facsimile: (212) 309-6001 Email : hbeltzer@morganlewi s. com wwalker@morganlewis. com

Attorneysfor the Debtors and Debtors in Possession

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