Heritage claim objection resolved with $1.06 million reserve
The court approved a settlement framework for Heritage Resources Non-Op LLC’s $1,061,932 claim, resolving the reorganized debtors’ pending objection without fixing the claim’s ultimate value. Under the Second Stipulation and Agreed Order, Claim 13498 remains a disputed Class 7 general unsecured claim while related state-court litigation proceeds to a final, non-appealable judgment or settlement.
The reorganized debtors must reserve for the Class 7 distribution attributable to the full $1,061,932 asserted amount. Heritage’s eventual allowed claim will equal the state-court judgment or settlement, capped at that amount and reduced by applicable offsets and credits; the claim will be disallowed if Heritage recovers no damages. The order removes the immediate bankruptcy-court dispute and further objection requirement but preserves the parties’ claims, defenses, counterclaims and appellate rights. The reserve requirement keeps potential distribution exposure outstanding until the state-court litigation reaches finality.