Free Order - District Court of Delaware - Delaware

Case 1 :04-cv-01567-GIVIS Document 22 Filed 03/14/2006 Page 1 of 2
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE

In re )
)
INSILCO TECHNOLOGIES, INC., et al., ) Bankruptcy Case No. 02-13672 (KJC)
) (Chapter 11)
Debtors. )

)
CHAD SHANDLER, as Trustee to the )
Insilco Liquidating Trust, )
)
Appellant, )
) C.A. No. 04-1567 (GMS)
v. )
)
TERM C LENDERS, )
)
Appellees. )

ORDER
Presently before the court is an appeal from the November 18, 2004, order of the United
States Bankruptcy Court in the District of Delaware (1) granting the Motion of the Term-C Lenders
to Enforce Orders, Dismiss Objection of the Official Committee of Unsecured Creditors, and
Authorize Distribution, and (2) dismissing the First Omnibus (Substantive) Objection ofthe Official
Committee of Unsecured Creditors to Claims of Class 7 Creditors, wherein the Official Committee
of Unsecured Creditors ("the Creditors’ Committee") sought “to reclassify or subordinate the Claims
of the Term-C Lenders under the Term-C Loan."
As pointed out by the bankruptcy court, Section 4 of the Settlement Agreement provides in
relevant part:
A. Releases bythe Debtors and the Creditors’ Committee — The Debtors and the
Creditors’ Committee [hereinafter the "Releasing Estate Parties] . . . hereby

Case 1:04-cv—01567-Gl\/IS Document 22 Filed 03/14/2006 Page 2 of 2
fully waive, release and forever discharge . . . each of the Senior Lenders
[hereinafter the "Released Lender Parties"] . . . from any and all manner of
actions, causes of action, in law or in equity, suits, debts, liens, contracts,
agreements, promises, liabilities, claims, damages, losses, controversies,
trespasses, remedies, defenses, set-offs, surcharges, costs or expenses of any
nature whatsoever, known or unknown, Hxed or contingent, which the
Releasing Estate Parties have had, now have, or may hereafter have against
the Released Lender Parties, by reason of any matter, cause or thing
whatsoever, from the beginning of time through and to the Settlement
Effective Date ....
C. Limitation on Release of Term C-Lenders — The releases and waivers
contained in Paragraph 4A of this Settlement Agreement for the benefit ofthe
Released Lender Parties shall also apply to the Term C Lenders . . . only in
respect of the Term-C Loans . . . and notwithstanding anything herein to the
contrary, the Term-C Lenders . . . shall not otherwise be released or deemed
released ....
(D.I. 13 at Al7—A20.) Given the express release granted to the Term C Lenders from "any and all
manner of actions, causes of action, in law or in equity? "in respect ofthe Tema-C Loans," this court
agrees with the bankruptcy court that "the terms of the Settlement Agreement . . . unambiguously
release[s] the Term C Lenders from the claims asserted in the Obj ection." (D.I. 13 at A640.)
IT IS HEREBY ORDERED THAT:
The November 18, 2004, order of the bankruptcy court be AFFIRMED.
Dated:March ,2006 _ $? [/-E ;’ Q i
S ATES DIST CT JUDGE
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