IN RE COMPUTER LEARNING CENTERS, INC. (Bankr.E.D.Va. 2005)

ROBERT MAYER, Bankruptcy Judge

WHEREAS, on March 22, 2001, this Court entered the Consent Order Granting AFCO Credit Corporation Relief from the Automatic Stay and for Adequate Protection (Doc. No. 156) (the "Consent Order");

WHEREAS, the Consent Order granted AFCO Credit Corporation ("AFCO") relief from the automatic stay to (i) cancel certain of the Debtor's prepetition insurance policies that were property of the Debtor's estate, which had been assigned prepetition by the Debtor to AFCO as collateral for a prepetition loan made by AFCO to the Debtor to purchase such insurance policies, and (ii) apply the unearned insurance premiums due upon cancellation under such insurance policies to the debt owed by the Debtor to AFCO;

WHEREAS, the Consent Order further provided that to the extent that a balance remained due and owing to AFCO after cancellation of the insurance policies and application of unearned insurance premiums as a credit to reduce Debtor's debt owed to AFCO, that such deficiency shall be deemed a Chapter 7 Administrative Claim incurred in connection with the administration of this bankruptcy case as actual, necessary costs and expenses of preserving the estate pursuant to 11 U.S.C. § 503(b)(1);

WHEREAS, a balance in the amount of $9,616.60 remains due and owing to AFCO after the cancellation of the insurance policies and application of the unearned insurance premiums as a credit to reduce Debtor's debt owed to AFCO (the "Administrative Claim");

WHEREAS, AFCO filed a proof of claim in this case on October 9, 2001 in the amount of the Administrative Claim as an unsecured priority claim (Claim No. 2854) (the "Priority Claim");

WHEREAS, on or about February 4, 2005, Donald F. King, as the Chapter 7 trustee of the Debtor, (the "Trustee") filed the Omnibus Objection to Lessors' Claims (Doc. No. 1688), whereby the Trustee objected to the Priority Claim;

WHEREAS, the Trustee has agreed to pay the Administrative Claim within ten (10) business days after the entry of this Stipulation and Consent Order and to waive any additional notice requirements under the Consent Order, and AFCO has agreed to withdraw the Priority Claim within five (5) business days after payment of the Administrative Claim;

IT IS, THEREFORE, BY THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF VIRGINIA, HEREBY:

ORDERED, that the Trustee shall pay the Administrative Claim in the amount of $9,616.60 by making a check payable to the order of "AFCO Credit Corporation" and by delivering such payment to counsel to AFCO, Joel L. Perrell Jr., Esquire, at the address set forth herein, within ten (10) business days after the entry of this Stipulation and Order; and it is further

ORDERED, that AFCO shall file a Line with this Court withdrawing the Priority Claim (Claim No. 2854) within five (5) business days after payment of the Administrative Claim; and it is further

ORDERED, that no further notice of this Stipulation and Consent Order is necessary or required.