NUMB:
970047
VERS:
ORIGINAL
REF:
XXBY:
JUDICIARY AND LEGISLATION
TITL:
Resolution authorizing the payment of $5,000.00 by the Milwaukee Water Works to Attorney John F. Waldschmidt, Chapter 7 Trustee in the Bankruptcy of Peck Foods Corporation.
ANLS:
-Analysis-
This resolution authorizes the payment of $5,000.00 by the Milwaukee Water Works to Attorney John F. Waldschmidt, Chapter 7 Trustee in the Bankruptcy of Peck Foods Corporation pursuant to the Order Approving Trustee's Amended Motion to Compromise and Compensation to Counsel to Trustee entered by the United States Bankruptcy Court, Eastern District of Wisconsin on March 19, 1997, Case No. 96-2156.
BODY:
Whereas, Peck Foods Corporation filed bankruptcy Chapter 11, United States Bankruptcy Court, Eastern District of Wisconsin on August 2, 1993 and subsequently converted to Chapter 7; and
Whereas, On February 8, 1996 an adversary proceeding was filed by now von Briesen, Purtell & Roper, S.C. on behalf of John F. Waldschmidt, Chapter 7 Trustee for Peck Foods Corporation against the Milwaukee Water Works, Case No. 96- 2156, therein alleging $52,906.47 paid by Peck Foods Corporation to the Milwaukee Water Works within 90 days prior to the filing of the bankruptcy was a preferential transfer as defined in sec. 547(b) of the Bankruptcy Code; and
Whereas, The attorneys for the Milwaukee Water Works and now von Briesen, Purtell & Roper, S.C., attorneys for John F. Waldschmidt, Chapter 7 Trustee of Peck Foods Corporation have agreed to settle the Preference Payment claim, and the United States Bankruptcy Court, Eastern District of Wisconsin, the Honorable Margaret D. McGarity, signed, on March 19, 1997, an Order Approving Trustee's Amended Motion to Compromise and Compensation to Counsel to Trustee, the claim against the Milwaukee Water Works for the sum of $5,000.00; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the Milwaukee Water Works pay to Attorney John F. Waldschmidt, Chapter 7 Trustee in the Bankruptcy of Peck Foods Corporation the sum of $5,000.00 pursuant to the Order entered by the United States Bankruptcy Court, Eastern District of Wisconsin, and that said amount to be charged to the Milwaukee Water Works Revenue Refund Account No. 41641-1-9490.
DFTR:
City Atty.
BAT/lj
03/27/97
peck.res
CATT.
BAT/lj
03/27/97
peck.res
CATT