15-12329-mg Doc 210 Filed 12/30/15 Entered 12/30/15 172401 Main Document Pg 1 of 3 TOGUT, SEGAL & SEGAL LLP One Penn Plaza, Suite 3335 New York, New York 10119 (212) 594-5000 Albert Togut Neil Berger Kyle J. Ortiz Counsel to James S. Feltman, Not Individually But Solely in His Capacity as Chapter 11 Trustee of Corporate Resource Services, Inc., et al. Presentment Date Objection Deadline 1/13/16 at Noon 1/13/16 at 1100 a.m. UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re CORPORATE RESOURCE SERVICES, INC., et al., 1 Debtors. Chapter 11 Case No. 15-12329 (MG) (Jointly Administered) NOTICE OF PRESENTMENT OF STIPULATION AND AGREED ORDER BY AND BETWEEN THE CHAPTER 11 TRUSTEE AND DAROR ASSOCIATES LLC, FURTHER EXTENDING THE TIME WITHIN WHICH THE TRUSTEE MAY ASSUME OR REJECT THE NONRESIDENTIAL REAL PROPERTY LEASE FOR THE PREMISES LOCATED AT 160 BROADWAY, NEW YORK, NEW YORK 10038 PLEASE TAKE NOTICE that, James S. Feltman, not individually but solely in his capacity as Chapter 11 trustee (the Trustee ) of the Debtors, will present the attached proposed stipulation and agreed order (the Stipulation and Agreed Order ), by and between the Trustee and Daror Associates LLC ( Daror, and, together with the Trustee, the Parties ), to further etend the time within which the Trustee may assume or reject the nonresidential real property lease for the premises located at 1 The Debtors in these Chapter 11 cases, along with the last four digits of each Debtor s federal ta identification number, are (1) Corporate Resource Services, Inc. (1965); (2) Accountabilities, Inc. (5619); (3) Corporate Resource Development Inc. (1966); (4) Diamond Staffing Services, Inc. (7952); (5) Insurance Overload Services, Inc. (9798); (6) Integrated Consulting Services, Inc. (2385); (7) The CRS Group, Inc. (1458); and (8) TS Staffing Services, Inc. (8647) (collectively, the Debtors or CRS ).
15-12329-mg Doc 210 Filed 12/30/15 Entered 12/30/15 172401 Main Document Pg 2 of 3 160 Broadway, 13 th Floor, New York, New York 10038 (the Leased Property ), to the Honorable Martin Glenn, United States Bankruptcy Judge for the Southern District of New York, for signature on January 13, 2016, at Noon (Eastern Time). PLEASE TAKE FURTHER NOTICE that objections, if any, ( Objections ) to the Stipulation and Agreed Order, if any, must be in writing, conform to the Bankruptcy Rules and the Local Bankruptcy Rules for the Southern District of New York, set forth the name and address of the objecting party, the nature of the claim or interest of such party, and the basis for the objection and the specific grounds thereof, and be filed electronically with the Clerk of the Court, with a hard copy delivered directly to the Chambers of the Honorable Martin Glenn, and must be served by electronic mail upon (i) Togut, Segal & Segal LLP, proposed counsel for the Trustee, Attn Neil Berger, Esq., neilberger@teamtogut.com, and Kyle Ortiz, Esq., kortiz@teamtogut.com; (ii) Wayne Greenwald, P.C., counsel for Daror, 475 Park Avenue South, Suite 26, New York, New York 10016, Attn Wayne Greenwald, Esq., grimlawyers@aol.com; and (iii) the United States Trustee for the Southern District of New York, Attn Brian S. Masumoto, Esq., brian.masumoto@usdoj.gov, so as to be actually received by 1100 a.m. (Eastern Time) on January 13, 2016 (the Objection Deadline ). 2
15-12329-mg Doc 210 Filed 12/30/15 Entered 12/30/15 172401 Main Document Pg 3 of 3 PLEASE TAKE FURTHER NOTICE that unless Objections are received by the Objection Deadline, the Stipulation and Agreed Order may be approved by the Court. Dated December 30, 2015 New York, New York JAMES S. FELTMAN Not Individually But Solely in His Capacity as Chapter 11 Trustee By His Attorneys, TOGUT, SEGAL & SEGAL LLP By /s/ Neil Berger ALBERT TOGUT NEIL BERGER KYLE J. ORTIZ One Penn Plaza, Suite 3335 New York, New York 10119 (212) 594-5000 3
15-12329-mg Doc 210-1 Filed 12/30/15 Entered 12/30/15 172401 Proposed Stipulation and Agreed Order Pg 1 of 4 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re CORPORATE RESOURCE SERVICES, INC., et al., 1 Debtors. Chapter 11 Case No. 15-12329 (MG) (Jointly Administered) STIPULATION AND AGREED ORDER BY AND BETWEEN THE CHAPTER 11 TRUSTEE AND DAROR ASSOCIATES LLC, FURTHER EXTENDING THE TIME WITHIN WHICH THE TRUSTEE MAY ASSUME OR REJECT THE NONRESIDENTIAL REAL PROPERTY LEASE FOR THE PREMISES LOCATED AT 160 BROADWAY, NEW YORK, NEW YORK 10038 This stipulation and agreed order (the Stipulation ) is made by and entered into by and between James S. Feltman, not individually but solely in his capacity as Chapter 11 trustee (the Trustee ) of the Debtors, and Daror Associates LLC ( Daror, and, together with the Trustee, the Parties ) The Chapter 11 Cases RECITALS A. On July 23, 2015, the Debtors commenced voluntary cases under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. [Doc. No. 1]. B. On July 27, 2015, the Trustee, in his capacity as Chapter 11 Trustee in the TS Employment, Inc. ( TSE ) bankruptcy case, which is an affiliated case pending 1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor s federal ta identification number, are (1) Corporate Resource Services, Inc. (1965); (2) Accountabilities, Inc. (5619); (3) Corporate Resource Development, Inc. (1966); (4) Diamond Staffing Services, Inc. (7952); (5) Insurance Overload Services, Inc. (9798); (6) Integrated Consulting Services, Inc. (2385); (7) The CRS Group, Inc. (1458); and (8) TS Staffing Services, Inc. (8647) (collectively, the Debtors or CRS ).
15-12329-mg Doc 210-1 Filed 12/30/15 Entered 12/30/15 172401 Proposed Stipulation and Agreed Order Pg 2 of 4 before this Court (Case No. 15-10243), filed his Application to Transfer Venue of the Debtors Cases to the Southern District [TSE Doc No. 127] (the Venue Application ). C. On August 18, 2015, this Court issued a Memorandum Opinion and Order granting the Venue Application. D. On August 27, 2015, the United States Trustee filed a motion for the entry of an order directing the appointment of a Chapter 11 trustee of the Debtors. [Doc. No. 121]. E. On September 10, 2015, the Court entered an order directing the United States Trustee to appoint a Chapter 11 trustee for the Debtors. [Doc. No. 137]. F. On September 22, 2015, the United States Trustee filed his Notice of Appointment of Chapter 11 Trustee, appointing the Trustee. [Doc. No. 143]. G. This Court approved the appointment of the Trustee by an Order dated September 25, 2015. [Doc. No. 148]. H. On October 1, 2015, the Chapter 11 Trustee filed his Acceptance of Appointment Pursuant to Bankruptcy Rule 2008. [Doc. No. 149]. The Lease I. On January 7, 2013, Corporate Research Services, Inc., one of the Debtors, and Daror entered into a lease agreement (the Lease ) for the premises located at 160 Broadway, 13 th Floor, New York, New York 10038 (the Premises ). J. The Debtors corporate headquarters are located at the Premises. K. The Trustee asserts that under the terms of the Lease, the Debtors monthly base rent is $13,454.86 and the Debtors are current in their payments under the Lease. L. The Trustee asserts that the Lease terminates by its epress terms on January 31, 2016. 2
15-12329-mg Doc 210-1 Filed 12/30/15 Entered 12/30/15 172401 Proposed Stipulation and Agreed Order Pg 3 of 4 M. On December 4, 2015, the Court entered a stipulation and agreed order etending the time within which the Trustee may assume or reject the Lease from November 21, 2015 until December 31, 2015. [Doc. No. 190]. N. Since that time, the Trustee and Daror have been engaged in discussions regarding an etention of the Lease, but have not yet reached final resolution. O. The Trustee has requested, and Daror has consented to, a further etension of the time within which the Trustee may assume or reject the Lease pursuant to section 365(d)(4)(B) of title 11 of the United States Code (the Bankruptcy Code ) from December 31, 2015 to and including January 31, 2016. Now, therefore, the parties stipulate and agree as follows 1. The time within which the Trustee may assume or reject the Lease pursuant to section 365(d)(4)(B) of the Bankruptcy Code is etended to January 31, 2016. 2. This Stipulation may not be modified, amended, or vacated other than by a signed writing eecuted by the Parties or by order of the Court. 3. Each person who eecutes this Stipulation on behalf of a party hereto represents that he or she is duly authorized to eecute this Stipulation on behalf of such party. 4. This Stipulation may be eecuted in multiple counterparts, each of which shall be deemed an original and evidence of this Stipulation may be echanged by fa or by electronic transmission of a scanned copy of the signature pages or by echange of originally signed documents, each of which shall be as fully binding on the party as a signed original. 3
15-12329-mg Doc 210-1 Filed 12/30/15 Entered 12/30/15 172401 Proposed Stipulation and Agreed Order Pg 4 of 4 5. The Parties hereby irrevocably and unconditionally agree that the Court shall retain eclusive jurisdiction to interpret, implement, and enforce the provisions of this Stipulation. Dated December 30, 2015 New York, New York DAROR ASSOCIATES LLC By Its Attorneys, WAYNE GREENWALD, P.C. By /s/ Wayne Greenwald WAYNE GREENWALD 475 Park Avenue South, Suite 26 New York, New York 10016 (212) 983-1922 JAMES S. FELTMAN Not Individually But Solely in His Capacity as Chapter 11 Trustee By His Attorneys, TOGUT, SEGAL & SEGAL LLP By /s/ Neil Berger ALBERT TOGUT NEIL BERGER KYLE J. ORTIZ One Penn Plaza, Suite 3335 New York, New York 10119 (212) 594-5000 SO ORDERED On this day of January 2016 HONORABLE MARTIN GLENN UNITED STATES BANKRUPTCY JUDGE 4