Free Letter - District Court of Delaware - Delaware

Case 1:04—cv—01494-JJF Document 302 Filed 02/12/2008 Paget of2
Bl.ANK~ ROMELLP
counszrorzs AT rAw
Phone: (302) 425-6467
Fax. (302) 425-6464
Email: [email protected]
February 12, 2008
BY CM/ECF AND EMAIL
The Honorable Joseph J. Farnan, Jr.
United States District Court
District of Delaware
844 King Street
Wilmington, DE 19801
Re: • Magten Asset Management Corp. and Law Debenture Trust C0. v.
Northwestern Corp.; C.A. N0. 04-1494-JJF
Your Honor:
The parties in the above captioned action, and all other related actions pending before
Your Honor and elsewhere in this District, have reached an agreement in principle on the terms
of a global compromise and settlement. Accordingly, counsel for Magten, Law Debenture and
NorthWestern jointly request that the matters pending before the Court be stayed or adjourned in
order to allow the parties time to document the agreement in principle that has been reached
among Magten, Law Debenture, NorthWestem, and various other parties.
The contemplated settlement would resolve ah matters currently pending before Your
Honor, the Third Circuit and the Bankruptcy Court. In that regard, the appeals pending before
the Third Circuit, including oral arguments that were previously scheduled for yesterday, have
been stayed and the parties have made a submission to the Bankruptcy Court stating that they
expect to present a global compromise and settlement in the near term. Therefore, we
respectfully make a joint request that all arguments and briefing scheduled for this and next
week, as well as the March 5 trial date, be stayed or adjourned while the parties work to
document the agreement. In the unlikely event that these processes do not result in a global
compromise and settlement, the parties will respectfully request that the matters before Your
Honor be placed back on your "active" calendar in a manner that is both convenient for Your
Honor and preserves the status quo of timing that exists with respect to the argument of the
summary judgment motion, submission of responses to motions in limine and other matters
currently pending.
Chase Manhattan Centre 1201 Market Street Suite 800 Wilmington, DE 19801
www.B|ankR0me.c0m
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Case 1 :04-cv-01494-JJF Document 302 Filed 02/12/2008 Page 2 of 2
BLANKQ ROMEM
The Honorable Joseph J. Faman, Jr. COUNSELORS AT LAW
February 12, 2008
Page 2
We greatly appreciate Your Honor’s assistance in aiding the parties to reach a final
resolution of all pending disputes and litigations.
Respectfully submitted,
/s/ Dale R. Dubé
Dale R. Dubé (I.D. No. 2863)
Counsel for Magten Asset Management Corp.
/s/ Kathleen M. Miller
Kathleen M. Miller l(I.D. No. 2898)
° SMITH KATZENSTEIN & FURLOW LLP
800 Delaware Avenue
P. O. Box 410
Wilmington, DE 19899
Counsel for Law Debenture Trust C0.
/s/ Victoria Watson Counihan
Victoria Watson Counihan (1.D. No. 3488)
GREENBERG TRAURIG LLP
The Nemours Building
1007 North Orange Street, Suite 1200
Wilmington, DE 19801
Counsel for North Western Corp.
cc: Clerk of Court (via hand delivery)
Myles Bartley, Esquire (via e-mail and Federal Express)
Kimberly A. Beatty, Esquire (via e-mail and Federal Express)
John W. Brewer, Esquire
Amanda Darwin, Esquire (via e-mail and Federal Express)
Nancy E. Delaney, Esquire (via e-mail and Federal Express)
Miriam K. Harwood, Esquire (via e-mail and Federal Express)
Stanley T. Kaleczyc, Esquire (via e-mail and Federal Express)
Gary L. Kaplan, Esquire
Denise Seastone Kraft, Esquire (via e-mail and hand delivery)
Dennis A. Meloro, Esquire (via e-mail and hand delivery)
J ordanna L. Nadritch, Esquire
Joseph D. Pizzurro, Esquire (via e-mail and Federal Express)
Steven J. Reisman, Esquire (via e-mail and Federal Express)
Peter B. Siroka, Esquire
Jolm V. Snellings (via e-mail and Federal Express)
Bonnie Steingart