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IN RE SEATRADE CORPORATION

No. 63 B 216.

297 F.Supp. 577 (1969)

In the Matter of SEATRADE CORPORATION, Kulukundis Maritime Industries, Inc., Tramp Shipping & Oil Transportation Co., A. H. Bull Steamship Co., A. H. Bull & Co. (Inc.), American Tramp Shipping Development Corporation, Messenian Shipping Corporation, Star Line Agency, Inc., Bankrupts. Petition of Arthur L. LIMAN, Trustee in Bankruptcy, v. The UNITED KINGDOM MUTUAL STEAMSHIP ASSURANCE ASSOCIATION.

United States District Court S. D. New York.

March 28, 1969.

Attorney(s) appearing for the Case

Edward J. Ryan, Referee in Bankruptcy.

Rosenman, Colin, Kaye, Petschek, Freund & Emil, New York City, for trustee by Ambrose Doskow, New York City, of counsel.

Kirlin, Campbell & Keating, New York City, for U. K. Mutual SS by Marshall P. Keating, Daniel J. Dougherty, New York City, of counsel.

OPINION

EDELSTEIN, District Judge.

Eight bankrupts filed petitions for reorganization under Chapter X of the Bankruptcy Act on May 21, 1963. They were all in the shipping business, under common control. In 1966 the Court ordered a consolidation of the proceedings and a merger of the assets and liabilities of all eight debtors.1 After disapproval of a plan of reorganization and liquidation submitted by the Chapter X trustees,...

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