IN RE WASHINGTON GROUP INTERNATIONAL, INC. (Bankr.D.Nev. 2006)

GREGG ZIVE, Chief Judge

Worthington Steel of Michigan, Inc. ("WSM"), through its undersigned counsel of record, and the Plan Committee (the "Committee") in these Chapter 11 Bankruptcy cases of Washington Group International, Inc., et al. (the "Debtors" or "Reorganized Debtors"), stipulate and agree as follows:

WHEREAS, on May 14, 2001, (the "Petition Date"), the Debtors filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code, 11 U.S.C § 101, et seq. (the "Bankruptcy Code"). Pursuant to an Order of the Court dated July 6, 2001, Robert L. Berger Associates, LLC ("Berger") was designated as the Claims and Noticing Agent for the purpose of receiving Proofs of Claim filed by entities asserting Claims against the Debtors;

WHEREAS, on August 21, 2001 WSM filed its proof of claim which has been designated as Claim Number 2003, as thereafter amended on November 23, 2005 and designated as Claim Number 15914 (Claim Numbers 2003 and 15914 shall be referred to collectively herein as the "WSM Claim");

WHEREAS, on December 21, 2001, the Bankruptcy Court entered into its Order (the "Confirmation Order") Confirming the Second Amended Joint Plan of Reorganization of Washington Group International, Inc., As Modified (the "Plan"). Pursuant to Section 8 of the Confirmation Order, the Committee is authorized to prosecute, settle, and otherwise resolve Claims in these Chapter 11 cases;

WHEREAS, on June 15, 2005 the Committee filed its Supplemental Omnibus Objection and Supplemental Omnibus Objection to Certain Contingent Contribution and Indemnification Claims pursuant to U.S.C. § 502(E)(1)(B) and the Declaration of Todd J. Dressel in Support of the Supplemental Omnibus Objection;

WHEREAS, on July 6, 2005, WSM filed its Response in Opposition to Supplemental Omnibus Objection and Supplemental Omnibus Objection to Certain Contingent Contribution and Indemnification Claims pursuant to U.S.C. § 502(E)(1)(B);

WHEREAS, the hearing of this matter, specifically the claims of WSM, was set to be heard on August 8, 2005, which hearing was subsequently was continued to October 25, 2005 and again continued, to be heard on January 13, 2006;

WHEREAS, a global settlement of the underlying action has been reached by the parties, resulting in a resolution of the Claim; NOW, THEREFORE, in accordance with the foregoing, and intending to be legally bound, the parties, by and through their respective undersigned counsel, do hereby agree and stipulate as follows:

1. Upon Entry of this Stipulated Order, the WSM Claim shall be deemed withdrawn;

2. Upon Entry of this Stipulated Order the Committee withdraws its Objection to the WSM Claim; and

3. Upon entry of this Stipulated Order, the WSM Claim, Claim Nos. 2003 and 15914, is disallowed.