IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Transcription

1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: ADVANTA CORP., et al., Debtors. 1 AC LIQUIDATING TRUST, Plaintiff, v. MANPOWER, INC., Defendant. Chapter 11 Case No (KJC (Jointly Administered Adv. Pro. No CERTIFICATION OF COUNSEL REGARDING ORDER APPROVING STIPULATION FOR EXTENSION OF TIME I, Howard A. Cohen, Esq., of Drinker Biddle & Reath LLP, counsel for the AC Liquidating Trust (the Trust or the Plaintiff, in the above-captioned adversary proceeding, hereby certify as follows: 1 The Debtors in these jointly administered chapter 11 cases, along with the last four digits of each Debtor s federal tax identification number, are Advanta Corp. (2070, Advanta Investment Corp. (5627, Advanta Business Services Holding Corp. (4047, Advanta Business Services Corp. (3786, Advanta Shared Services Corp. (7074, Advanta Service Corp. (5625, Advanta Advertising Inc. (0186, Advantennis Corp. (2355, Advanta Mortgage Holding Company (5221, Advanta Auto Finance Corporation (6077, Advanta Mortgage Corp. USA (2654, Advanta Finance Corp. (8991, Advanta Ventures Inc. (5127, BE Corp. (8960, ideablob Corp. (0726, Advanta Credit Card Receivables Corp. (7955, Great Expectations International Inc. (0440, Great Expectations Franchise Corp. (3326, and Great Expectations Management Corp. (3328.

2 1. On November 5, 2011, Plaintiff commenced the above-captioned adversary proceeding by filing a complaint (the Complaint against Manpower, Inc. (the Defendant. 2. Plaintiff and Defendant are engaged in discussions concerning a potential settlement and have agreed to continue these discussions prior to requiring Defendant to file its answer. 3. A stipulation for an extension of time for Defendant to answer or otherwise respond to the Complaint (the Stipulation incorporating the parties agreement is attached hereto as Exhibit A. 4. Accordingly, I respectfully request that the Court enter an Order, in substantially the form attached hereto as Exhibit B, approving the Stipulation at the Court s earliest convenience. Dated: January 9, 2012 Wilmington, Delaware Respectfully submitted, /s/ Howard A. Cohen Howard A. Cohen, Esq. (DE 4082 DRINKER BIDDLE & REATH LLP 1100 North Market Street, Suite 1000 Wilmington, DE Telephone: ( Facsimile: ( howard.cohen@dbr.com Counsel for the AC Liquidating Trust

3 EXHIBIT A

4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: ADVANTA CORP., et al., Debtors. 2 AC LIQUIDATING TRUST, Plaintiff, v. MANPOWER, INC., Defendant. Chapter 11 Case No (KJC (Jointly Administered Adv. Pro. No STIPULATION EXTENDING TIME FOR DEFENDANT TO ANSWER PLAINTIFF S COMPLAINT The AC Liquidating Trust (the Trust or the Plaintiff and Manpower, Inc., (the Defendant and together with the Plaintiff, the Parties, hereby agree and stipulate to the following: WHEREAS, on November 5, 2011, the Plaintiff filed a Complaint to Avoid and Recover Transfers of Property Pursuant to 11 U.S.C. 547, 548 and 550 and to 2 The Debtors in these jointly administered chapter 11 cases, along with the last four digits of each Debtor s federal tax identification number, are Advanta Corp. (2070, Advanta Investment Corp. (5627, Advanta Business Services Holding Corp. (4047, Advanta Business Services Corp. (3786, Advanta Shared Services Corp. (7074, Advanta Service Corp. (5625, Advanta Advertising Inc. (0186, Advantennis Corp. (2355, Advanta Mortgage Holding Company (5221, Advanta Auto Finance Corporation (6077, Advanta Mortgage Corp. USA (2654, Advanta Finance Corp. (8991, Advanta Ventures Inc. (5127, BE Corp. (8960, ideablob Corp. (0726, Advanta Credit Card Receivables Corp. (7955, Great Expectations International Inc. (0440, Great Expectations Franchise Corp. (3326, and Great Expectations Management Corp. (3328.

5 Disallow Claims Pursuant to 11 U.S.C. 502(d against the Defendant (the Complaint. The Summons to the Complaint was issued on or about December 9, WHEREAS, the Parties are engaged in discussions concerning a potential settlement of this matter in an attempt to forego the incurrence of additional litigation expenses and, therefore, have agreed to extend the initial date by which the Defendant is required to answer, plead or otherwise move with respect to the Complaint. NOW, THEREFORE, IT IS STIPULATED AND AGREED by and between the undersigned counsel for the Parties, that the time for the Defendant to answer or otherwise respond with respect to the Complaint shall be extended until February 10, 2012, at 4:00 p.m. (prevailing Eastern Time. IT IS ALSO STIPULATED AND AGREED that this stipulation is without prejudice to an application, or additional stipulation by the parties, for further extensions.

6 Dated: January 9, 2012 DEFENDANT, MANPOWER, INC.: By: /s/ Don A. Leviton Don A. Leviton, Esq. Atlas & Leviton 2550 West Golf Road, Suite 300, Rolling Meadows, IL Telephone: ( ext. 416 Facsimile: ( Counsel for Defendant PLAINTIFF, AC LIQUIDATING TRUST: By: /s/ Howard A. Cohen Howard A. Cohen, Esq. (DE 4082 Drinker Biddle & Reath LLP 1100 N. Market Street, Suite 1000 Wilmington, Delaware Telephone: ( Facsimile: ( and- Robert K. Malone (pro hac vice Marita S. Erbeck (pro hac vice 500 Campus Drive Florham Park, New Jersey Telephone: ( Facsimile: ( Counsel for Plaintiff

7 EXHIBIT B

8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: ADVANTA CORP., et al., Debtors. 3 AC LIQUIDATING TRUST, Plaintiff, v. MANPOWER, INC., Defendant. Chapter 11 Case No (KJC (Jointly Administered Adv. Pro. No ORDER APPROVING STIPULATION EXTENDING TIME FOR DEFENDANT TO ANSWER PLAINTIFF S COMPLAINT Upon consideration of the stipulation of the AC Liquidating Trust (the Trust or the Plaintiff and Manpower, Inc., (the Defendant and together with the Plaintiff, the Parties extending time for Defendant to answer the Plaintiff s Complaint 4 (the Stipulation, and the Court having determined that good and adequate cause exists for 3 The Debtors in these jointly administered chapter 11 cases, along with the last four digits of each Debtor s federal tax identification number, are Advanta Corp. (2070, Advanta Investment Corp. (5627, Advanta Business Services Holding Corp. (4047, Advanta Business Services Corp. (3786, Advanta Shared Services Corp. (7074, Advanta Service Corp. (5625, Advanta Advertising Inc. (0186, Advantennis Corp. (2355, Advanta Mortgage Holding Company (5221, Advanta Auto Finance Corporation (6077, Advanta Mortgage Corp. USA (2654, Advanta Finance Corp. (8991, Advanta Ventures Inc. (5127, BE Corp. (8960, ideablob Corp. (0726, Advanta Credit Card Receivables Corp. (7955, Great Expectations International Inc. (0440, Great Expectations Franchise Corp. (3326, and Great Expectations Management Corp. ( Capitalized terms not otherwise defined herein, shall have the meanings ascribed to them in the Stipulation.

9 approval of the Stipulation; and the Court having determined that no further notice of the Stipulation must be given; it is hereby: ORDERED, that the Stipulation, is approved; and it is further ORDERED, that the Defendant s time to answer or otherwise move with respect to the Complaint shall be extended until February 10, 2012, at 4:00 p.m. (prevailing Eastern Time. Dated: January, 2012 The Honorable Kevin J. Carey United States Bankruptcy Judge