In re Raistone Financial Corp., No. 26-10371 (Bankr. S.D.N.Y.), order approving stipulation of settlement between the Chapter 7 trustee and Morton County Hospital (ECF 62, Aug. 24, 2026)

Summary

Doc 62, filed August 24, 2026 in In re Raistone Financial Corp., Case No. 26-10371 (DSJ), a Chapter 7 case, in the United States Bankruptcy Court for the Southern District of New York, is an Order Approving Stipulation of Settlement. Its caption lists both Raistone Financial Corp. and Raistone Capital LLC, FKA Seaport Global Supplier Finance LLC, Case No. 26-10372 (DSJ). On the motion of Chapter 7 Trustee Gregory M. Messer, the Court approves a Stipulation with Morton County Hospital, d/b/a Morton County Health System, a copy of which is annexed as Exhibit A to the Motion. The findings state that the Stipulation was negotiated at arm’s length and in good faith, and the Court retains jurisdiction. It is dated August 24, 2026 above the name of Honorable David S. Jones.

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26-10371-dsj         Doc 62       Filed 08/24/26 Entered 08/24/26 11:28:26      Main Document
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UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
--------------------------------------------------------------x
In re:                                                              Chapter 7

RAISTONE FINANCIAL CORP.,                                           Case No. 26-10371 (DSJ)

                           Debtor.
--------------------------------------------------------------x
In re:                                                              Chapter 7

RAISTONE CAPITAL LLC,
FKA Seaport Global Supplier Finance LLC,                            Case No. 26-10372 (DSJ)

                           Debtor.
--------------------------------------------------------------x

                   ORDER APPROVING STIPULATION OF SETTLEMENT

        Upon the motion (“Motion”) of Gregory M. Messer, solely in his capacity as Chapter 7

Trustee (“Trustee”) of the bankruptcy estates (collectively, “Estates”) of Raistone Financial Corp.

(“Raistone Financial”), and Raistone Capital LLC (“Raistone Capital”, each a “Debtor” and

collectively with Raistone Financial, the “Debtors”), seeking entry of an Order, pursuant to 11

U.S.C. §105(a) (“Bankruptcy Code”) and Rule 9019(a) of the Federal Rules of Bankruptcy

Procedure (“Bankruptcy Rules”): (i) approving a Stipulation of Settlement Between the Chapter 7

Trustee and Morton County Hospital, d/b/a Morton County Health System (“Morton” or “Health

System”) (each of the Trustee and Morton is a “Party”, and together, they are the “Parties”); and

(ii) granting the Trustee such other, further and different relief as this Court may deem just and

proper (“Motion”); and upon the Affidavit of Service of the Motion; and there being no opposition

to the relief sought in the Motion; and a hearing having been scheduled by the Court on August

11, 2026; and upon a Certificate of No Objection having been filed with the Court on August 7,

2026 [Dkt Nos. 55 and 58]; and there having been due and sufficient notice of the Motion; and the

Court having determined that the Stipulation is a fair and reasonable settlement of the disputes at
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issue, a proper exercise of the Trustee’s business judgment in light of the risks and costs of

continued litigation; and is in the best interests of the Debtors’ Estates; and no additional notice

being necessary or required;

        IT IS HEREBY FOUND THAT:

        A. This Court has jurisdiction to consider the Motion and relief requested therein pursuant

            to 28 U.S.C. §§157 and 1334 and the matter is a core proceeding under 28 U.S.C.

            §§157(b)(2)(A) and(O).

        B. Adequate notice of the Motion was given, and no further notice is required.

        C. The Stipulation was negotiated at arm’s length and in good faith.

        D. The settlement set forth in the Stipulation falls above the lowest point in the range of

            reasonableness.

        E. The Stipulation represents a fair and reasonable exercise of the Trustee’s business

            judgment.

        NOW, THEREFORE, upon the Motion of the Trustee, the record in this case and good

cause shown, it is hereby

        ORDERED that the Stipulation, a copy of which is annexed as Exhibit A to the Motion, is

approved in its entirety; and, it is further

        ORDERED that this Court shall retain jurisdiction to hear and determine all matters arising

from or related to this Order.


Dated: New York, New York
       August 24, 2026
                                                    s/ David S. Jones
                                               Honorable David S. Jones
                                               United States Bankruptcy Judge




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