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IN RE AGRIBIOTECH, INC., (Bankr.D.Nev. 2001)

United States Bankruptcy Court, D. Nevada
Mar 1, 2001
STIPULATION AND ORDER REGARDING WITHDRAWAL OF CLAIM NO. 3104 FILED BY QUINCY FARMS CHEMICALS, INC.

LINDA B. RIEGLE, United States Bankruptcy Judge

This Stipulation And Order Regarding Withdrawal of Claim No. 3104 Filed By Quincy Farms Chemicals, Inc. is entered into by and among the Unsecured Creditors' Committee (the "Committee") and Quincy Farms Chemicals, Inc. (the "Claimant"), by and through their counsel of record, with reference to the following recitals:

A. On January 25, 2000, the above-styled Debtors filed Voluntary Petitions for Relief under Chapter 11 of Title 11 of the United States Code, commencing the above-styled bankruptcy cases ("Bankruptcy Cases");

B. The Debtors and Committee have filed their First Amended Joint Plan of Reorganization of AgroBio Tech, Inc., Las Vegas Fertilizer Co., Garden West Distributors and Geo W. Hill Co., Inc. (the "Joint Plan"). The Confirmation hearings on the Joint Plan are scheduled to commence on March 5, 2001.

C. The Claimant filed Proof of Claim No. 3104, in the amount of $74,425.55, which purports to be fully secured. The Claimant has already been completely compensated for its claims against Debtors. In light of the compensation received by the Claimant, the Claimant no longer holds a valid claim against Debtors. Claim No. 3104 should therefore be withdrawn from the Bankruptcy Cases;

D. The Claimant and Committee have thus reached an agreement on the withdrawal of the Claim No. 3104.

STIPULATION

NOW, THEREFORE, the Claimant and Committee stipulate and agree as follows:

1. Claim No. 3104 shall be deemed withdrawn from the Bankruptcy Cases;

2. The Claimant no longer holds any claims in these Bankruptcy Cases, for any and all purposes.

ORDER

IT IS HEREBY ORDERED that the foregoing Stipulation is approved in its entirety and that Claim No. 3104 shall be deemed withdrawn from the Bankruptcy Cases;

IT IS FURTHER ORDERED that Quincy Farms Chemicals, Inc. no longer holds any claims in these Bankruptcy Cases, for any and all purposes.