PROPOSED SETTLEMENT AGREEMENT BETWEEN ROYAL INDEMNITY COMPANY AND THE BANKRUPTCY TRUSTEESettlement Agreement • April 10th, 2003 • Netbank Inc • Savings institutions, not federally chartered • California
This Settlement Agreement (this “Agreement”) is entered into as of the 2nd day of April 2003, by and among Richard M Kipperman (the “Trustee”), solely in his capacity as the chapter 7 trustee for the bankruptcy estates (“Bankruptcy Estates”) of Commercial Money Centers, Inc. (“CMC”) and Commercial Servicing Corporation (“CSC” and together with CMC, the “Debtors”) in the bankruptcy cases (the “Bankruptcy Cases”) jointly administered under U.S.B.C. Case No. 02-09721-H7 and currently pending before the United States Bankruptcy Court for the Southern District of California (the “California Bankruptcy Court”) and Royal Indemnity Company (“Royal”), with reference to the following facts:
