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IN RE NEW 118TH LLC

Bankruptcy No. 07-12333. Adversary No. 07-3064.

396 B.R. 885 (2008)

In re NEW 118TH LLC, et al., Debtors. Joremi Enterprises, Inc., Zev Cohen & Associates, Inc., Qualified Retirement Plan, Cohen Properties of Central Florida, Ltd., Zev Cohen & Gail Cohen, Tenants by the Entirety, Individually and on Behalf of All Those Investors in Mortgages Originated by the Kingsland Group, Inc., On 16 Properties in Manhattan, Plaintiffs, v. Michael Hershkowitz, Ivy Turk a/k/a Ivy Woolf-Turk, and Robert Lobel, Defendants.

United States Bankruptcy Court, S.D. New York.

November 13, 2008.

Attorney(s) appearing for the Case

Lederman Abrahams & Lederman, LLP, Massapequa, NY (Bruce H. Lederman, of Counsel), for Special Real Estate Counsel and Special Litigation Counsel to the Official Committee of Unsecured Creditors.

Pelosi Wolf Effron & Spates LLP, New York, NY (Alan Effron, of Counsel), for Defendant Robert Lobel.

MEMORANDUM DECISION GRANTING REMAND

STUART M. BERNSTEIN, Chief Judge.

The plaintiffs instituted an action in the Supreme Court of the State of New York, New York County (the "State Court Action") against New 118th LLC, a number of its affiliates, several financial institutions, the City and State of New York and three individuals, Michael Hershkowitz ("Hershkowitz"), Ivy Woolf-Turk ("Turk") and Robert Lobel ("Lobel") (collectively,

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