SUSAN KELLEY, Bankruptcy Judge
Upon consideration of the motion (the "Motion") of the Independent Steel Workers Alliance ("ISWA") and the debtors in possession in the above-captioned chapter 11 cases (collectively, the "Debtors") seeking entry of an order authorizing certain modifications of their collective bargaining agreements; and it appearing that the relief requested is in the best interest of the Debtors' estates and creditors; and it appearing that this Court has jurisdiction over this matter pursuant to 28 U.S.C. §§ 157 and 1334; and it appearing that this Motion is a core proceeding pursuant to 28 U.S.C. § 157; and adequate notice of the Motion having been given; and it appearing that no other notice need be given; and after due deliberation and sufficient cause appearing therefor and based on the ISWA's representations that it will negotiate is good faith with potential buyers, investors or plan sponsors, it is hereby:
Capitalized terms not defined herein shall have the same meaning as in the Motion.
ORDERED that the Motion is granted; and it is further
ORDERED that Exhibit A to the Motion is approved and the Debtors are authorized to implement the Modifications described in the Motion (including payment of the amounts otherwise due under the Thrift Plan within ten business days of entry of this Order), according to the terms described inExhibit A; and it is further
ORDERED that, although the Debtors are authorized to implement the Modifications immediately, the CBAs, as amended by the Modifications, would not be assumed until a Conforming Plan is confirmed in these cases. If, for whatever reason, a Conforming Plan is not confirmed, or if the substantially all of the Debtors' assets are sold under Section 363, then the Modifications shall be deemed null and void, and the (unmodified) CBAs will remain in effect, subject to 1113 and other applicable law; provided, however, that the interim payments to the employees made while the Modifications were in effect (including the Thrift Match) shall not be subject to disgorgement; and it is further
ORDERED that to the extent the Filed ISWA Claims were filed on behalf of Active ISWA Employees, such claims are disallowed; in the place of these claims, the ISWA holds an allowed unsecured claim in the fixed amount of $9 million (the "ISWA Claim"); the ISWA will not receive any distribution on account of the ISWA Claim, however, if the class of unsecured claims accepts the Conforming Plan; and it is further
ORDERED that, until a Conforming POR is confirmed, the ISWA members shall not engage in any strike, house action, work stoppage, slowdown, or other labor action that could adversely affect the Company's operation, provided that, if either a Change in Ownership (as defined in the Modifications) or a sale of substantially all of the Debtors' assets under section 363 occurs, then this restriction shall not apply; and it is further
ORDERED that all claims filed by Active ISWA Employees are disallowed, except for claims premised on Workers Compensation; and it is further
ORDERED that, until Confirmation of a Conforming POR, the ISWA shall remain a member of the Creditors Committee; and it is further
ORDERED that the Modifications are effective prospectively only. The Modifications shall replace the Stipulated Order as it relates to Active ISWA Employees (but not ISWA retirees who are represented by the ISWA in these bankruptcy cases) as of entry of this Order; and it is further
ORDERED that this Court shall retain jurisdiction to hear and determine all matters arising from or relating to the implementation of this Order.