02/25/2025 Agreement '(. ITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF FLORIDA
MIAMI DIVISION
www.flsb,uscourts.gov
In ree Case No.: 23-11154-RAM
MICHAEL JOSEPH MCMAHON and
SERGEI NIKOSHCHENKOV, Chapter I I
Debtors,
......................................................................................... .......I.............................................................................................11..................... .....................
SETTLEMENT AGREEMENT
This Settlement Agreement (the "Agreement") is entered into by and on Debtors
MICHAEL JOSEPH MCMAHON and SERGEI NI NKOV (the "Debtors")and
Monroe County(the "Creditor," and collectively, the "Parties") in resolution of Creditor's Proof
of Claim No. 15 (the "Proof of Claim").
WHEREAS,the Creditor filed the Proof of Claim on July 18,2023, asserting a claim in the
amount of$255,047.61;
WHEREAS, the Parties have engaged in discussions and reached a resolution regarding the
Proof of Claim, subject tothe terms and conditions set forth herein;
WHEREAS, the Parties desire to memorialize their agreement and avoid further litigation
regarding the Proof of Claim.
NOW,THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Parties agree as follows:
L Payment by Debtor. The Debtors shall pay the sum of$120,500.34(the "Settlement
Payment") tothe Creditor. Payment shall be made within fourteen (14)days oft e
execution oft is Agreement by all Parties and shall be sent to the following address or
account specified by the Creditor: [Specify Address or Payment Instructions].
i
f
i
f
2. Full Release.Upon receipt of the Settlement Payment in cleared funds,the Parties
mutually release and discharge each other from any and all claims, demands,causes of
action, liabilities, or obligations arising out of or related to the Proof of Claim. This
release shall include, but not be limited to,any claims arising under applicable non-
bankruptcy law and any claims that could have been asserted in connection with the
Proof of Claim.
3. Effectiveness of Release.The release set forth in Paragraph 2 shall be effective upon the
Creditor's confirmation of receipt of the Settlement Payment and shall have no force or
effect if the Settlement Payment is not made as specified herein.
4. Reservation of Jurisdiction. The Parties agree that the United States Bankruptcy Court
retains jurisdiction to interpret, implement, and enforce the terms of this Agreement.
5. Binding Effect. This Agreement shall be binding upon the Parties and their respective
successors and assigns.
G. Execution in Counterparts. This Agreement may be executed in one or more
counterparts,each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Facsimile and electronic signatures shall be
deemed valid and enforceable.
APPROVED AND AGREED:
Dated: Dated:
a
Ares '. 001114
4
oel M. An
�„, 'eli a� ard�� Iv . ,,..ski,
tY J 9
Counsel far Debtors Counsel f' C're 'tor Monroe County
JOEL M. ARESTY, P.A. Monroe Co Attorney's Office
309 1st Ave S 1111 12th Street; Suite 408
Tierra Verde, FL 33715 Key West, Florida 33040
Aresty�gMac.com Harden-AnjeIica@MonroeCounty-FL.Gov
(305)904-1903
(305)292-3470