City of Kansas City, Missouri v. Housing & Economic Development Financial Corporation et al

Filing 1970

ORDER Approving Receivers Recommendation for Adoption of Proposed Employee Separation Plan re 1959 Notice of filing filed by David Bahner Signed by District Judge Gary A. Fenner on 10/1/09. (Mitchell, Lisa)

IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF MISSOURI WESTERN DIVISION CITY OF KANSAS CITY, MISSOURI, Plaintiff, v. HOUSING & ECONOMIC DEVELOPMENT FINANCIAL CORPORATION, et al., Defendants. ) ) ) ) ) ) ) ) )

Case

No.

05-00368-CV-W-GAF

ORDER APPROVING RECEIVER'S RECOMMENDATION FOR ADOPTION OF RECEIVER'S PROPOSED EMPLOYEE SEPARATION PLAN (Doc. No. 1959) The Court, having reviewed the Receiver's Recommendation for Adoption of Receiver's Proposed Employee Separation Plan (Doc. No. 1959) and proposed Receiver's HEDFC Employee Separation Plan (Exhibit A to Receiver's Recommendation), the Court finds that the Receiver's Recommendation is reasonable, and the Receiver's Recommendation and proposed Receiver's HEDFC Employee Separation Plan are hereby approved. It is ORDERED: 1. The Receiver is authorized to terminate the group health insurance benefit plan

afforded to HEDFC employees as and when, in the Receiver's discretion, he deems necessary and prudent. 2 The Receiver is authorized to acquire and pay for continuation coverage plans for

health and dental insurance benefits for HEDFC employees currently insured on HEDFC's group health and dental plans, in accordance with the current health and dental insurance benefits provided by HEDFC, for up to a maximum period of 18 months, as outlined in the Receiver's Recommendation. The Receiver is authorized to exercise his best judgment in determining how payment for such individual continuation policies should occur. 3. The Receiver is authorized to terminate the 40l(k) plan of HEDFC and to take all

necessary measures to do so, in accordance with the Receiver's proposed HEDFC Employee Separation Plan. The Receiver is authorized to amend the plan, to apply for an IRS

determination letter verifying the plan's qualified status, to distribute the assets of the plan, and to comply with all regulatory requirements of termination.

4.

The Court approves the Receiver's HEDFC Employee Separation Plan and

authorizes the Receiver to adopt and implement the Plan and to incorporate the authority granted herein into the Plan, at such time and in such manner as the Receiver deems appropriate. 5. There is no just reason for delay, and final judgment is hereby entered on this

Order pursuant to Rule 54(b). s/ Gary A. Fenner Gary A. Fenner, Judge United States District Court

DATED: October 1, 2009

2569328.01