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).

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