Stipulation of Dismissal with Prejudice — No. 1:22-cv-04602 (Dkt. 24, N.D. Ill.)

Summary

A stipulation of dismissal with prejudice filed March 16, 2023 as Document 24 in Franklin Capital Holdings LLC v. The United States Small Business Administration et al., Case No. 22-CV-04602, in the U.S. District Court for the Northern District of Illinois before Magistrate Judge Cummings. The parties state the action has settled, ask the court to retain jurisdiction to reopen it if the settlement is not completed, and attach a proposed order of dismissal and the settlement agreement as Exhibit A. Under the Stipulation for Compromise Settlement and Release, the SBA will re-process Franklin's forgiveness application for its $295,100 PPP loan from CIBC Bank USA and approve partial forgiveness of 75%, or $221,325, with Franklin responsible for the remaining 25%, or $73,775. The agreement states it is not an admission of liability and each party bears its own fees and costs.

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