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Contract analysis / matter-closing-letter.docx

matter-closing-letter.docx

High · 2 Medium · 2 Standard · 3

1. Purpose and Confirmation of Dismissal

1. Purpose and Confirmation of Dismissal The purpose of this letter is to confirm the formal closure of the above-referenced matter on the records of Calderwood & Harkness LLP and to provide you with a comprehensive summary of the proceedings, the current status of all related claims, and our recommendations for ongoing monitoring and future action. On February 17, 2023, the Circuit Court of Cook County, Illinois, Co

2. Summary of the Matter High

⚑ Indemnity / guarantee obligation

2. Summary of the Matter We provide the following comprehensive summary of the matter for your records and for the benefit of GAP's internal files. 2(a). Engagement and Pre-Suit Phase Calderwood & Harkness was retained by Greenfield Agricultural Partners LLC on March 22, 2022, pursuant to the terms of an executed Engagement Letter of that same date, to pursue a breach-of-contract collection action against Prairie Bas

3. Current Status and Preserved Claims High

⚑ Indemnity / guarantee obligation

3. Current Status and Preserved Claims 3(a). Receivership Claim GAP's Proof of Claim remains pending in the Sangamon County receivership proceeding, Case No. 2022-CH-001247. To date, no order has been entered allowing or disallowing the claim, and we understand that the receiver is still in the process of reviewing and reconciling claims submitted by creditors of PBGC. GAP's claim is classified as unsecured. As you a

4. Summary of Fees and Costs Standard

⚑ Commercial term

4. Summary of Fees and Costs Set forth below is a summary of the total professional fees and costs billed to GAP for Calderwood & Harkness's representation in Matter No. 1020-00005 through the conclusion of the engagement: Costs and disbursements include filing fees, service of process fees, court reporter fees for hearing transcripts, legal research charges (Westmark Data Systems), copying and production costs, and

5. Document Retention and File Disposition Medium

⚑ Liability cap to check against exposure

5. Document Retention and File Disposition Calderwood & Harkness will retain the complete matter file for Matter No. 1020-00005 in accordance with the firm's document retention policy, which provides for the retention of closed litigation files for a period of ten (10) years from the date of closure unless a shorter or longer retention period is required by applicable law, court order, or client instruction. Followin

6. Recommendation for Ongoing Monitoring Medium

⚑ Liability cap to check against exposure

6. Recommendation for Ongoing Monitoring Although Matter No. 1020-00005 is being formally closed on Calderwood & Harkness's records, we recommend that GAP actively monitor the Sangamon County receivership proceeding, Case No. 2022-CH-001247, for significant developments. Key events to monitor include, but are not limited to: • Any interim or final distributions to creditors of PBGC, including the schedule and percent

7. Closing Standard

⚑ Commercial term

7. Closing On behalf of Calderwood & Harkness, I wish to express our sincere appreciation for the opportunity to represent Greenfield Agricultural Partners LLC in this matter. We understand the significance of the amounts at stake and the importance of GAP's commercial relationships in the grain trading industry, and we remain committed to assisting GAP in achieving the best possible outcome in the receivership proce

1. Copy of Order of Voluntary Dismissal Without Prejudice dated February 17, 2023 (Circui

1. Copy of Order of Voluntary Dismissal Without Prejudice dated February 17, 2023 (Circuit Court of Cook County, Illinois, Case No. 2022-L-004831)

2. Final Invoice Summary and Fee Statement — Calderwood & Harkness LLP Matter No. 1020-00 Standard

⚑ Commercial term