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IN RE NELCO, LTD.

Bankruptcy No. 96-31500-T. Adversary No. 97-3204-T.

264 B.R. 790 (1999)

In re NELCO, LTD., Debtor. Ezra H. Cohen, Trustee, Plaintiff, v. Un-Ltd. Holdings, Inc., and Richard A. Nelson, Defendants.

United States Bankruptcy Court, E.D. Virginia, Richmond Division.

December 27, 1999.

Attorney(s) appearing for the Case

Douglas E. Ernst, Troutman Sanders L.L.P., Atlanta, GA, Michael W. Smith, Paul W. Jacobs, II, August C. Epps, Jr., Christian & Barton, L.L.P., Richmond, VA, for Plaintiff.

Everette G. Allen, Jr., W.R. Baldwin, III, Michael P. Falzone, Hirschler, Fleischer, Weinberg, Cox & Allen, P.C., Richmond, VA, for Defendants.

MEMORANDUM OPINION

DOUGLAS O. TICE, Jr., Chief Judge.

The debtor Nelco, Ltd., filed a chapter 11 case on March 25, 1996, and operated as debtor in possession until the case was converted to chapter 7 on January 7, 1997. During the chapter 11 case debtor sold most of its tangible assets. Plaintiff chapter 7 trustee brings this adversary proceeding asserting monetary damages against Un-Ltd. Holdings, Inc., debtor's parent corporation, and Richard A...

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