v. Regions Bank et al

Filing 33

AGREED ORDER to distribute funds from registry of Bankruptcy Court; further noting the agreement of all parties, the court hereby orders all but $0.34 of the money held in the registry, i.e. $112,310.34 to be paid from the registry of the B ankruptcy Court to Regions, who shall then administer said funds as required by the terms of the trust. Signed by Honorable Robert T. Dawson on September 2, 2011. (cc: Office of U.S. Trustee, Cheryl A. Reagan c/o Joan Mawn and Lyle Foster - Regions Bank Trustee)(rw) Modified on 9/2/2011 to add text(rw).

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SHntte[ StstesFrgtrrff@nurt Wnsrnnn DrsrRrcr on AnxaNSAS Hor Spnn*cs DrvrsroFr FREDERICK S. WETZEL,III, Trusteeand G. LATTA BACHELOR,III, succes$or PersonalRepresentativeof the ESTATE OF RONALD E. REAGAN, Deceased, Appellants, Case 6:09-cv-6075 No. v. REGIONS BANK, N-A. and CHBRYL A. REAGAN, Debtor, Appellees. AGREED ORDER TO DISTRIBUTE FUNDS FROM REGISTRY OF BANKRUPTCY COURT This casecame to this court on an appealfrom the decisionof the bankruptcy court in an adversary proceedingstyled RegionsBank v. wetzel,et al., USBC Ap No. 6:08-ap-071158 (Bankr.W.D.Ark,).In a memorandurn opinionfiled April 15,2010,this court affirmed the decision of the bankruptcycourt, a decision which was recently affirmedby a panelof the Eighth circuit court of Appealson August l z, 201I .r Part and parcel of the advisoryproceeding was the questionof what to do with accumulated trust income during the pendencyof the litigation. The bankruptcycourt directed that trust income be paid into the registry of the bankruptcy court, then later ordered the funds returned to the trustee of the trust in question, Regions Bank ' The Appealreceived two casenumbers because Trustee the and the Intervenor filed their respective noticesof appealseparatelyBachelor v. Regions, a/., No. t0-2 I l7 and Wetzel v. Regions, al., No e/ et l0-2t23 ("Regions"). This Court later approveda compromiseproposal wherein a stay was effectedwherein funds paid into the registryof the bankruptcycourt by Regionsup to a certaindatewould remainthereuntil all appeals were concluded prospective but income from the trust in questionwould be paid by Regionsto the incomebeneficiary.IDOC # 32,2l2l20trl Thecase themerits been on has concluded theCourt Appeals. by of According to Ms. Dee Dee Morehead of the Bankruptcy Court Clerk's office in Little Rock, the registrybalanceas of August 24,2011, is $112,310.68, centsof which shouldbe 34 retained the clerk's office. by Noting the agreement all parties,the Court herebyordersall but $0.34 of the of moneyheldin the registry, $l12,310.34 be paidfrom the registry thebankruptcy i.e. to of coutt to Regions,who shall then administersaid funds as requiredby the terms of the trust. IT IS SO ORDERED. fu{it,rli"n P ,0,, United States District Judge ,_ ^ug TRre eor.rRT * BI$ WESTERN T OtSt.ehxalsas . FILED sEP 2 20tl 0 AGREED: CtrRISR. JOIINSON, Clerk By Dcputyfle* /s/ GuvW. Murphv.Jr. GuyW. Murphy,Jr. HYDEN, MtRor.{ FosrER, & PLLC 557Locust Street Conway, 72034 AR Attorneys Regions for Bank /s/ Frcderick Wetzel Frederick Wetzel, S. III U.S.Bankruptcy Trustee 200N. State Suite St., 200 LittleRock, AR 72201 /s/ RoeerD. Rowe Roger Rowe D. Lax & Vaughn t 1300 Cantrell 200 Rd., Little Rock,AR 7L2tz Attv. for Mr, Bachelor

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