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IN THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

In re:

§

CHAPTER 11

§

RADIOSHACK CORPORATION, et al.,

§

Case No. 15-10197 (MFW)

§

Jointly Administered

Debtors

§

§

Related Docket Nos. 18, 36, 38, 106

§

& 114

CERTAIN TEXAS TAXING ENTITIES’ LIMITED OBJECTION TO

DEBTORS’ COMBINED MOTION FOR (I) ORDERS: (I) ESTABLISHING

BIDDING AND SALE PROCEDURES; (II) APPROVING

THE SALE OF ASSETS; AND (III) GRANTING RELATED RELIEF

TO THE HONORABLE UNITED STATES BANKRUPTCY JUDGE:

Clear Creek I.S.D., Harris County M.U.D. No. 105, Spring Branch I.S.D., City of

Houston, Spring I.S.D., Alief I.S.D., Harris County M.U.D. No. 276, Tomball I.S.D., City of

Tomball, Klein I.S.D., La Porte I.S.D., West Harris County M.U.D. No. 16, Humble I.S.D.,

Harris County M.U.D. No. 186, City of Bellaire, Harris County M.U.D. No. 321, Malcomson

Road U.D., Harris County M.U.D. No. 132, Galena Park I.S.D., Harris County M.U.D. No. 285,

Harris County M.U.D. No. 249, Cinco M.U.D. No. 12, Willow Fork Drainage District, City of

Rosenberg, Fort Bend I.S.D., Fort Bend L.I.D. No. 2, City of Katy, Harris-Fort Bend M.U.D. No.

4, City of Meadows Place, Brazoria County Tax Office, Dickinson I.S.D., Woodlands Metro

Center M.U.D., Woodlands Road U.D. No. 1, Magnolia I.S.D., Walker County C.A.D.,

Arlington I.S.D., Eagle Mountain-Saginaw I.S.D., City of Azle, Carroll I.S.D., Crowley I.S.D.,

Mansfield I.S.D., City of Benbrook, City of Burleson, Burleson I.S.D., City of Cleburne,

Cleburne I.S.D., Johnson County/Hill Coll, Ennis I.S.D., Richardson I.S.D., Houston County,

City of Greenville, Greenville I.S.D., Tyler I.S.D., Wichita Falls City, Wichita Falls I.S.D.,

Wichita County, Cooke County, Gainesville Hosp, North Central TX Coll Dist, Lat Rd for

Cooke Co., Gainesville City, Midland County , Lubbock C.A.D., Weslaco I.S.D., City of

(2)

Weslaco, McAllen I.S.D., Colorado County, Copperas Cove I.S.D., Kerr County, Kendall

County, Gray County Tax Office, Potter County Tax Office , Randall County Tax Office and

Hutchinson County Tax Office, secured creditors and parties in interest (“Certain Texas Taxing

Entities”) file this its Limited Objection to Debtors’ Combined Motion for Orders: (I)

Establishing Bidding and Sale Procedures; and (II) Approving the Sale of Assets; and (III)

Granting Related Relief (the “Sale Motion”)

1

and respectfully shows as follows:

1.

The Certain Texas Taxing Entities are political subdivisions of the State of Texas,

authorized and required by the Constitution and laws of the State of Texas to levy and collect ad

valorem taxes on taxable real and personal property within their boundaries.

2.

The Certain Texas Taxing Entities have claims for property taxes assessed on the

Debtors’ tangible personal property located within their boundaries for the 2014 and estimated

2015 tax years in the approximate amount of $307,334.33 as of the Petition Date. These claims

are set forth in Exhibit “A” attached hereto.

3.

The Certain Texas Taxing Entities’ claims are secured by unavoidable liens that are

generally superior to those of any other secured claimant pursuant to Article VIII, Section 15 of

the Texas Constitution, and Sections 32.01 and 32.35(b) of the Texas Property Tax Code.

4.

It appears to the Certain Texas Taxing Entities that paragraph X of the decretal provisions

of the proposed Sale Order provide for attachment of their tax liens to the sale proceeds, and that

their taxes are a Permitted Encumbrance under the Stalking Horse APA, but even so, the Certain

Texas Taxing Entities do not believe that this adequately protects their tax liens and claims as

required by 11 U.S.C. § 363(e). The proceeds from the sale of the Certain Texas Taxing Entities’

collateral constitutes the cash collateral of the Certain Texas Taxing Entities, and it objects to the

(3)

use of its collateral to pay any other creditors of the estates. Pursuant to 11 U.S.C. §363(c)(4),

absent consent by the Certain Texas Taxing Entities or an order of the Court permitting use of its

cash collateral, the Debtors “shall segregate and account for any cash collateral” in their

possession. The Debtors have not filed a motion seeking to use the cash collateral of the Certain

Texas Taxing Entities, except to the limited extent set forth in the DIP Funding Motion, nor has

there been a hearing on the use of the Certain Texas Taxing Entities’ collateral. Accordingly,

absent its consent, a segregated account must be established from the sale proceeds to comply

with the requirements of § 363(c)(4).

5.

The proceeds from the sale of the Certain Texas Taxing Entities collateral should not be

distributed to any other party unless and until its claim, including any interest thereon as allowed

under 11 U.S.C. §§ 506(b), 511 and 1129, are paid in full.

6.

Paragraph U of the decretal provisions of the proposed Sale Order allows the Buyer to

Credit Bid an Allowed Claim of an unspecified amount. In the event of a credit bid, to the extent

there are no sale proceeds to which the tax liens can attach and which can be used to pay the

claims of the Certain Texas Taxing Entities. In the event of a credit bid by a junior lienholder,

the property should be sold subject to the senior tax liens or the liens should be paid at closing.

7.

The Certain Texas Taxing Entities object to a credit bid by a junior lienholder to the

extent that it would result in the avoidance of the tax liens. There is no legal or equitable basis

for subordinating or avoiding the tax liens in this manner. Absent provision for the adequate

protection of the tax liens, in the form of adequate funds set aside in a segregated account as

requested above, the Certain Texas Taxing Entities object to the approval of a sale on a credit

bid.

(4)

WHEREFORE, the Certain Texas Taxing Entities object to the Debtors’ Sale Motion and

request this Court to order appropriate provisions to assure the protection of the position of these

secured tax creditors, and grant them such other and further request other relief as is just and

proper.

Dated: February 17, 2015.

Respectfully submitted,

PERDUE, BRANDON, FIELDER, COLLINS & MOTT, L.L.P.

Attorneys for the Certain Texas Taxing Entities

1235 North Loop West, Suite 600

Houston, Texas 77008

(713) 862-1860 (phone)

(713) 862-1429 (fax)

/s/ Owen M. Sonik

-+

Owen M. Sonik

Texas State Bar No. 18847250

Elizabeth Banda Calvo

Texas State Bar No. 24012238

(817) 505-4733 (phone)

(817) 860-6509 (fax)

CERTIFICATE OF SERVICE

I hereby certify that on this the 17

th

day of February, 2015, I sent a true and correct copy

of the above and foregoing Certain Texas Taxing Enitites’ Limited Objection to Debtors’ Sale

Motion to the following parties by the following means:

DEBTOR

RadioShack Corporation

VIA First Class U.S. Mail

Attn: Bob Donohoo

RadioShack Circle

Fort Worth, TX 75201

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Attn: Gregory M. Gordon

2727 N. Harwood Street

Dallas, TX 75201

PEPPER HAMILTON

Attn: David M. Fournier, whose email address is:

fournierd@pepperlaw.com

COUNSEL FOR STALKING HORSE

DEBEVOISE & PLIMPTON LLP

Attn: Richard Hahn, whose email address is:

rfhahn@debevoise.com

MORRIS NICHOLS ARSHT & TUNNELL

Attn: Gregory Werkheiser, whose email address is:

gwerkheiser@mnat.com

DLA Piper LLP

Attn: Gregg Galardi, whose email address is:

gregg.galardi@dlapiper.com

UNITED STATES TRUSTEE

Richard L. Schepacarter, whose email address is:

richard.schepacarter@usdoj.gov

/s/ Owen M. Sonik

(6)

Entity

Location

Geocode

Tax Years

Claim

Entity

# of stores

Claim

Years

Clear Creek ISD 304 W Bay Area Blvd 2082260 2015 $2,003.57 Clear Creek ISD 3 $6,885.66 2015

HC MUD 105 6037 N Fry Rd 2138771 2014-15 $3,035.26 HC MUD 105 1 $3,035.26 2014-15

Spring Branch ISD 1645 W Sam Houston Pkwy 2068090 2015 $257.31 Spring Branch ISD 6 $10,575.23 2015 City of Houston 1645 W Sam Houston Pkwy 2068090 2015 $116.45 City of Houston 8 $6,797.26 2015

Spring Branch ISD 1018 Gessner Dr 0286191 2015 $2,164.12 Spring ISD 2 $4,786.64 2015

City of Houston 1018 Gessner Dr 0286191 2015 $979.37 Alief ISD 6 $13,043.86 2015

Spring ISD 348 FM 1960 0428958 2015 $2,092.74 HC MUD 276 1 $1,514.93 2014-15

Alief ISD 9511 Southwest Fwy 0086951 2015 $1,956.61 Tomball ISD 2 $5,474.03 2015

Spring Branch ISD 633 Memorial City Mall 0007311 2015 $2,763.38 City of Tomball 1 $695.53 2015 City of Houston 633 Memorial City Mall 0007311 2015 $1,250.57 Klein ISD 3 $5,798.14 2015

Spring Branch ISD 1461 Wirt Rd 0007310 2015 $1,635.54 La Porte ISD 1 $2,442.92 2015

City of Houston 1461 Wirt Rd 0007310 2015 $740.16 West HC MUD 16 1 $1,724.45 2014-15

Spring Branch ISD 14356 Memorial Dr 0007309 2015 $2,116.11 Humble ISD 4 $8,771.64 2015

City of Houston 14356 Memorial Dr 0007309 2015 $957.64 HC MUD 186 1 $436.94 2015

Alief ISD 12670 Bissonnet 0016879 2015 $1,998.60 City of Bellaire 1 $655.55 2015

HC MUD 276 5005 Highway 6 0022508 2014-15 $1,514.93 HC MUD 321 1 $2,747.69 2015

Tomball ISD 14320 FM 2920 Rd 0107732 2015 $2,770.27 Malcomson Road UD 1 $954.27 2015

City of Tomball 14320 FM 2920 Rd 0107732 2015 $695.53 HC MUD 132 1 $134.36 2015

Klein ISD 16840 Stuebner Airline Rd 0163449 2015 $2,194.99 Galena Park ISD 1 $3,109.73 2015

La Porte ISD 9001 Spencer Hwy 0173850 2015 $2,442.92 HC MUD 285 1 $1,849.32 2015

Alief ISD 14464 Bellaire Blvd 0214985 2015 $2,390.84 HC MUD 249 1 $1,569.96 2015

Alief ISD 2660 Eldridge Pkwy 0154106 2015 $2,132.65 Cinco MUD 12 1 $713.61 2015

West HC MUD 16 2660 Eldridge Pkwy 0154106 2014-15 $1,724.45 Willow Fork Drainage District 1 $451.95 2015

Humble ISD 1284 Deerbrook Mall 0247637 2015 $2,448.95 City of Rosenberg 1 $723.93 2015

Alief ISD 10555 Wesheimer Rd 0086719 2015 $2,339.94 Fort Bend ISD 3 $6,416.32 2015

HC MUD 186 7089 Highway 6 0360983 2015 $436.94 Fort Bend LID 2 1 $214.01 2015

City of Bellaire 4809 Bissonnet St 0025374 2015 $655.55 City of Katy 1 $2,394.58 2014-15 HC MUD 321 10407 North Fwy 0911150 2015 $2,747.69 Harris-Ft Bend MUD 4 1 $1,735.04 2015 Alief ISD 5858 S Gessner Dr 0051400 2015 $2,225.22 City of Meadows Place 1 $1,272.51 2015 Spring Branch ISD 2755 Gessner Dr 0813467 2015 $1,638.77 Brazoria County T/O 4 $21,541.65 2015

City of Houston 2755 Gessner Dr 0813467 2015 $741.63 Dickinson ISD 2 $4,921.98 2015

Humble ISD 142 1st St 0181265 2015 $2,394.12 Woodlands Metro Center MUD 1 $279.15 2015

Clear Creek ISD 1322 Baybrook Mall 0034975 2015 $2,493.86 Woodlands Road UD 1 1 $609.06 2015 City of Houston 1322 Baybrook Mall 0034975 2015 $1,124.16 Magnolia ISD 1 $2,175.87 2015

Klein ISD 4705 FM 1960 Rd 0745342 2015 $1,913.52 Walker County CAD 1 $5,200.47 2015

Humble ISD 4367 Kingwood Dr 0745331 2015 $2,137.07

City of Houston 4367 Kingwood Dr 0745331 2015 $887.28

Summary of Claims

Claims

Houston

Houston

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HC MUD 249 20530 Interstate 45 0170596 2015 $1,569.96 Cinco MUD 12 23702 Westheimer Pkwy B 9960182070009914 2015 $713.61 Willow Fork Drainage District 23702 Westheimer Pkwy B 9960182070009914 2015 $451.95 City of Rosenberg 5028 Avenue H 9960180000175901 2015 $723.93 Fort Bend ISD 3221 Highway 6 9960180870011907 2015 $2,389.76 Fort Bend LID 2 3221 Highway 6 9960180870011907 2015 $214.01 Fort Bend ISD 5936 Highway 6 S 9960182030013907 2015 $2,121.35 City of Katy 5000 Katy Mills CIR 541 9960182020051914 2014-15 $2,394.58 Harris-Ft Bend MUD 4 5000 Katy Mills CIR 541 9960182020051914 2015 $1,735.04 Fort Bend ISD 11611 W Airport BLVD H 9960182030016907 2015 $1,905.21 City of Meadows Place 11611 W Airport BLVD H 9960182030016907 2015 $1,272.51 Brazoria County T/O 2625 S Highway 35 Bypass 185 91032031000 2015 $4,843.37 Brazoria County T/O 117 W Highway 332 C 93393846000 2015 $8,470.03 Brazoria County T/O 1830 N Velasco (Highway 288 B) 92062424000 2015 $6,636.71 Brazoria County T/O 10504 Broadway 120 97000810130 2015 $1,591.54 Dickinson ISD 2600 FM 1764 Ste 150 860005486558005 2015 $2,741.06 Clear Creek ISD 153 FM 518 Ste F 860005486558092 2015 $2,388.23 Dickinson ISD 2920 Gulf Fwy S Ste D 860005486558085 2015 $2,180.92 Woodlands Metro Center MUD 1201 Lake Woodlands Dr Ste 2094 1910019380426 2015 $279.15 Woodlands Road UD 1 1201 Lake Woodlands Dr Ste 2094 1910019380426 2015 $609.06 Magnolia ISD 33020 FM 2978 Rd Ste 519 1920015467022 2015 $2,175.87 Walker County CAD 3011 SH 30 West 9950120063525 2015 $5,200.47

Total: $131,653.50

Arlington ISD 1014 Parks @ Arlington #8385 09633472 2014-15 $4,838.68 Arlington ISD 7 $25,843.85 2014-15 Arlington ISD 1108 N Collins S #8327 08138222 2014-15 $3,589.67 Eagle Mtn-Saginaw ISD 1 $7,084.33 2014-15 Arlington ISD 2425 SE Green Oaks # 11, #8379 10676317 2014-15 $2,704.60 City of Azle 1 $1,755.26 2014-15 Arlington ISD 2131 N Collins S #411, #8359 09627138 2014-15 $2,942.28 Carroll ISD 1 $5,130.90 2014-15 Arlington ISD 3006 E Pioneer Pkwy #8323 08138273 2014-15 $2,794.22 Crowley ISD 1 $4,260.40 2014-15 Arlington ISD 4400 Little Rd #311 #8196 09160922 2014-15 $4,288.04 Mansfield ISD 2 $9,833.31 2014-15 Arlington ISD 901 W Pioneer Pkwy #101 #8346 08138249 2014-15 $4,686.36 City of Benbrook 1 $1,699.89 2014-15 Eagle Mtn-Saginaw ISD 1453 N Saginaw Blvd A-110 11669039 2014-15 $7,084.33 City of Burleson 2 $2,365.79 2015 City of Azle 168 Park Pl #8070 09083936 2014-15 $1,755.26 Burleson ISD 2 $4,923.40 2015 Carroll ISD 2140 E Southlake Blvd K, #8371 10749365 2014-15 $5,130.90 City of Cleburne 1 $1,933.51 2015 Crowley ISD 4801 S Hulen St #128 #8335 10544364 2014-15 $4,260.40 Cleburne ISD 1 $3,286.43 2015 Mansfield ISD 5912 S Cooper St #110 #8182 11506539 2014-15 $4,216.85 Johnson County/Hill Coll 2 $1,975.18 2015 Mansfield ISD 900 N Walnut Creek dr #105 #8492 10932437 2014-15 $5,616.46 Ennis ISD 1 $5,193.16 2014-15 City of Benbrook 9393 Benbrook Blvd #8166 10410422 2014-15 $1,699.89 Richardson ISD 5 $10,706.07 2015

City of Burleson 811 NE Alsbury Blvd #400 #8449 10809848 2015 $1,060.74 Burleson ISD 811 NE Alsbury Blvd #400 #8449 10809848 2015 $2,207.48 City of Cleburne 1301 W Henderson St 126-5528-64300 2015 $1,933.51 Cleburne ISD 1301 W Henderson St 126-5528-64300 2015 $3,286.43 Johnson County/Hill Coll 1301 W Henderson St 126-5528-64300 2015 $1,190.39 City of Burleson 130 NW John Jones Dr #8358 126-5525-70175 2015 $1,305.05 Burleson ISD 130 NW John Jones Dr #8358 126-5525-70175 2015 $2,715.92 Johnson County 130 NW John Jones Dr #8358 126-5525-70175 2015 $784.79

Ennis ISD 1011 E Ennis Ave #8199 229727 2014-15 $5,193.16

Arlington

Arlington

(8)

Richardson ISD 980 Coit Rd N #8138 99000000216836800 2015 $2,728.03 Richardson ISD 206 Campbell Rd W #8164 99000000214802550 2015 $2,780.22 Richardson ISD 206 Campbell Rd W #8164 99000000214802550 2015 $2,780.22

Total: $85,991.48

Houston County 1243 Loop 304 0019817 2015 $832.17 Houston County 1 $832.17 2015

City of Greenville 2715 Traders Rd 0000G 10535 2015 $1,631.87 City of Greenville 1 $1,631.87 2015 Greenville ISD 2715 Traders Rd 0000G 10535 2015 $3,163.35 Greenville ISD 1 $3,163.35 2015

Tyler ISD 0004601S BROADWAY 98000034550900 2015 $2,195.85 Tyler ISD 2 $4,104.85 2015

Tyler ISD 0001745TROUP 98000034570900 2015 $1,909.00

Total: $9,732.24

Wichita Falls City 3111 Midwestern Pkwy 140 223070 2015 $1,095.00 Wichita Falls City 2 $2,278.00 2015 Wichita Falls ISD 3111 Midwestern Pkwy 140 223070 2015 $1,896.00 Wichita Falls ISD 2 $3,944.00 2015 Wichita County 3111 Midwestern Pkwy 140 223070 2015 $851.00 Wichita County 2 $1,771.00 2015

Wichita Falls City 3201 Kemp 206788 2015 $1,183.00 Cooke County 1 $1,475.00 2015

Wichita Falls ISD 3201 Kemp 206788 2015 $2,048.00 Gainesville Hosp 1 $343.00 2015

Wichita County 3201 Kemp 206788 2015 $920.00 North Central TX Coll Dist 1 $342.00 2015

Cooke County 1501 N Grand 126596 2015 $1,475.00 Lat Rd for Cooke Co 1 $1.00 2015

Gainesville Hosp 1501 N Grand 126596 2015 $343.00 Gainesville City 1 $2,143.00 2015

North Central TX Coll Dist 1501 N Grand 126596 2015 $342.00

Lat Rd for Cooke Co 1501 N Grand 126596 2015 $1.00

Gainesville City 1501 N Grand 126596 2015 $2,143.00

Total: $12,297.00

Midland County 3300 W Illinois Ave #8306 P000012270 2014-15 $588.36 Midland County 2 $1,023.23 2014-15 Midland County 4411 N Midkiff Rd #9936 P000012272 2014-15 $434.87 Lubbock CAD 5 $9,805.57 2015

Lubbock CAD 6002 Slide Rd, Ste D24 #9909 P87570 2015 $2,538.27 Lubbock CAD 8203 Indiana Ave #9916 P87602 2015 $1,966.52 Lubbock CAD 3207 50th St, Ste B #9120 P174671 2015 $2,080.35 Lubbock CAD 5707 4th St, Ste 2 #8307 P87453 2015 $1,560.21 Lubbock CAD 2420 19th St #8316 P160912 2015 $1,660.22

Total: $10,828.80

Weslaco ISD 1025 N. Texas, Ste. 5 W380099120000102 2015 $3,544.11 Weslaco ISD 1 $3,544.11 2015 City of Weslaco 1025 N. Texas, Ste. 5 W380099120000102 2015 $2,135.42 City of Weslaco 1 $2,135.42 2015 McAllen ISD 7400 N. 10th, Ste. C N541099000000211 2015 $3,294.21 McAllen ISD 4 $14,140.31 2014-15 McAllen ISD 2200 S. 10th, St., Unit-62 L170099000001A04 2015 $2,727.00 Colorado County 1 $4,990.26 2014-15 McAllen ISD 1001 S. 10th St. R (1st FL) T545099000000A86 2015 $2,963.56 Copperas Cove ISD 1 $1,522.47 2015 McAllen ISD 4120 Ware Rd., Ste. F M236099000000200 2014-15 $5,155.54 Kerr County 1 $1,064.73 2015

Austin

Austin

Lubbock & Midland

Wichita Falls

Tyler

Tyler

Wichita Falls

(9)

Total: $31,213.75

Gray County Tax Office 1820 Hobart 310200210003750000000 2015 $4,490.05 Gray County Tax Office 1 $4,490.05 2015 Potter County Tax Office 2475 W IH 40 B00051409600 2015 $3,572.73 Potter County Tax Office 3 $12,961.30 2015 Potter County Tax Office 1804 E. Amarillo Blvd. B00051409601 2015 $4,158.03 Randall County Tax Office 1 $3,844.37 2015 Potter County Tax Office 372 Westgate Mall B00051409604 2015 $5,230.54 Hutchinson County Tax Office 1 $4,321.84 2014-15 Randall County Tax Office 7306 SW 34th Ave B00051409603 2015 $3,844.37

Hutchinson County Tax Office 600 Main St. P108335 2014-15 $4,321.84

Total: $25,617.56

Grand Total: $307,334.33

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