Bankrupt Toys “R” Us, the Official Committee of Unsecured Creditors, and “key stakeholders” in the bankruptcy case have settled protracted disputes related to the sale of the iconic toy store’s Asian business operations, according to a settlement agreement filed Dec. 11.

Judge Keith L. Phillips of the U.S. Bankruptcy Court for the Eastern District of Virginia may consider whether to approve the deal as early as Dec. 13.

The agreement resolves “all issues” in the company’s liquidation proceedings, “paving the way for the conclusion of these cases,” TRU said in its motion to approve the agreement.

Specifically, the deal spells out how the Asian unit will license TRU’s brands and technology after it is acquired by a group of secured lenders.

Following another settlement with a part-owner of the Asian business, the court is likely to approve that sale at a hearing Dec. 13, thereby wrapping up the last of TRU’s operating assets. At the hearing the court will also consider an amended Chapter 11 plan.

Under the agreement, the Asian company will get 15-year licenses for intellectual property for a 2 percent royalty. After receiving proprietary source code, it will pay a total of about $7.6 million to TRU.

The Asian unit will waive a claim of $26 million and will make a payment of about $3.7 million to one of the several Toys “R” Us companies in bankruptcy.

The Asian company will make a $6 million payment to another of the debtors in April and will pay that company $3 million “in settlement of certain professional fee allocation disputes.”

In addition, certain of TRU’s secured lenders who’ve objected to the Chapter 11 plans filed by the TRU debtors will waive those objections.

With those objections withdrawn, the bankruptcy court is likely to approve Dec. 13 the Chapter 11 liquidation plan.

Toys “R” Us is represented by Kirkland & Ellis LLP.

The case is In re Toys “R” Us, Inc., Bankr. E.D. Va., 17-34665, Motion 12/11/18.