OneBeacon Insurance Company v. Plant Insulation Company

Filing 82

JOINT STIPULATION AND ORDER REGARDING WAIVER OF EQUITABLE MOOTNESS AS TO APPEAL AND REVIEW OF MODIFIED CONFIRMATION ORDER. Signed by Judge Richard Seeborg on 8/20/14. (cl, COURT STAFF) (Filed on 8/20/2014)

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Anna Shiran (State Bar No. 260911)
DENTONS US LLP
525 Market Street, 26th Floor
San Francisco, CA 94105-2708
Telephone:
[phone]
Facsimile:
[phone]
[e-mail]

Philip A. O'Connell Jr. (State Bar No. 152486)
DENTONS US LLP
101 Federal Street, Suite 2750
Boston, MA 02110
Telephone: [phone]
Facsimile: [phone]
[e-mail]

Robert B. Millner (Pro Hac Vice)
DENTONS US LLP
233 S. Wacker Drive, Suite 7800
Chicago, IL 60606-6404
Telephone:
[phone]
Facsimile:
[phone]
[e-mail]
Attorneys for ONEBEACON INSURANCE
COMPANY

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UNITED STATES DISTRICT COURT
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DENTONS US LLP
525 MARKET STREET, 26TH FLOOR
SAN FRANCISCO, CALIFORNIA 94105-2708
[phone]

NORTHERN DISTRICT OF CALIFORNIA
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SAN FRANCISCO DIVISION
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No. 3:14-cv-01200-RS
In re
Bankr. Case No. 3:09-BK-31347 TEC

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PLANT INSULATION CO.,

Chapter 11

Debtor.

Judge Seeborg
ORDER
JOINT STIPULATION REGARDING
WAIVER OF EQUITABLE MOOTNESS AS
TO APPEAL AND REVIEW OF MODIFIED
CONFIRMATION ORDER

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ONEBEACON INSURANCE CO., et al.,

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Appellants,

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v.

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PLANT INSULATION CO., et al.,

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Appellees.

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JOINT STIPULATION REGARDING WAIVER OF EQUITABLE MOOTNESS
Case No. 3:14-cv-01200-RS

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The insurers identified in the signature block below (collectively, the "Insurers"), the Official

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Committee of Unsecured Creditors, (the "Committee"), debtor and debtor-in-possession Plant

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Insulation Company ("Plant") and the court-appointed representative of future asbestos claimants (the

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"Futures Representative") (collectively, the Committee, Plant, and the Futures Representative being

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referred to as the "Plan Proponents") (all of the above collectively referred to below as the "Parties"),

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by and through their respective undersigned counsel, hereby stipulate to the following:

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1.

The Insurers have advised the Plan Proponents that they would seek a stay of the

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implementation of this Court's August 18, 2014 rulings in this case (the Order Affirming

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Confirmation of Revised Plan of Reorganization (Dkt. No. 77) and Order Denying Appeal From
Confirmation of Revised Plan of Reorganization (Dkt. No. 76)) and the Bankruptcy Court rulings that

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DENTONS US LLP
525 MARKET STREET, 26TH FLOOR
SAN FRANCISCO, CALIFORNIA 94105-2708
[phone]

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were the subject of those August 18, 2014 rulings (the "Confirmation Order") pending an appeal of

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the Confirmation Order by the Insurers (the "Appeal") based on the Insurers' concern that if they do

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not seek and obtain a stay the appeal may be dismissed as moot, including on the doctrine commonly

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known as equitable mootness. The Plan Proponents have responded that they would oppose such a

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stay. As an alternative to proceeding with a motion for a stay, and in lieu of such motion, the parties

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have reached the stipulation set forth herein.

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2.

The Plan Proponents are willing to stipulate that they will not file a motion to dismiss

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the Appeal based on mootness of any kind, as long as the Insurers agree to join in requesting that the

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Ninth Circuit expedite the hearing of the Appeal and in seeking a briefing schedule in the Ninth

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Circuit that is concluded as quickly as the schedule set for the Insurers' prior appeal to the Ninth

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Circuit. The parties are willing to so stipulate.

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3.

The Plan Proponents agree that they will not seek to dismiss the Appeal or raise

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equitable mootness as a ground for disposition of the Appeal. Mootness, including the doctrine of

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equitable mootness, is waived as an issue in the Appeal. The Insurers agree that they will not seek to

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stay implementation of the Plan or delay the occurrence of the Modified Effective Date. The Insurers

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and the Plan Proponents shall request that the Ninth Circuit Court of Appeals expedite the Appeal

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JOINT STIPULATION REGARDING WAIVER OF EQUITABLE MOOTNESS
Case No. 3:13-cv-01200-RS

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and the briefing schedule.
4.

The Plan Proponents shall not contend that the failure to seek or obtain a stay of the

Confirmation Order is a basis for any finding adverse to the Insurers.
IT IS SO STIPULATED.
Bayside Insulation and Construction, Inc.,
formerly Plant Insulation Company, Debtor

Hon. Charles B. Renfrew (Ret.),
Futures Representative

/s/ George H. Kalikman
George H. Kalikman, Esq.
Schnader Harrison Segal & Lewis LLP

/s/ Gary S. Fergus
Gary S. Fergus, Esq.
Fergus, A Law Office

Official Committee Of Unsecured Creditors

OneBeacon Insurance Company

/s/ Michael H. Ahrens
Michael H. Ahrens, Esq.
Sheppard, Mullin, Richter & Hampton LLP

/s/ Philip A. O'Connell, Jr.
Philip A. O'Connell, Jr.
DENTONS US LLP

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DENTONS US LLP
525 MARKET STREET, 26TH FLOOR
SAN FRANCISCO, CALIFORNIA 94105-2708
[phone]

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And, for purposes of this stipulation only, on
behalf of the following parties in interest and
their counsel: American Home Assurance
Company; Granite State Insurance Company,
and Insurance Company of the State of
Pennsylvania; Transport Indemnity Company;
and United States Fidelity and Guaranty
Company.

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IT IS SO ORDERED.

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__________________________________
HON. RICHARD SEEBORG
UNITED STATES DISTRICT JUDGE

Dated: August ___, 2014
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JOINT STIPULATION REGARDING WAIVER OF EQUITABLE MOOTNESS
Case No. 3:13-cv-01200-RS