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IN RE SPECTRUM ARENA, INC.

No. 30437.

340 F.Supp. 755 (1971)

In the Matter of SPECTRUM ARENA, INC., Debtor.

United States District Court, E. D. Pennsylvania.

August 31, 1971.

Attorney(s) appearing for the Case

Sidney Chait, Philadelphia, Pa., for Trustees.

LeRoy E. Perper, Philadelphia, Pa., for ARA Services.

I. Grant Irey, Jr., Philadelphia, Pa., for Fidelity Bank.

Gilbert W. Oswald, Philadelphia, Pa., for Foreman-Snider.

Philip P. Kalodner, Philadelphia, Pa., for Debtor.

IN PROCEEDINGS FOR REORGANIZATION OF A CORPORATION UNDER CHAPTER X THE BANKRUPTCY ACT

HIGGINBOTHAM District Judge.

OPINION

I.

On May 1, 1968, the Spectrum Arena, Inc. (hereinafter referred to as the "Debtor" or the "Spectrum") was involuntarily placed in reorganization under the Bankruptcy Act of July 1, 1898, Chapter X (11 U.S.C. 501, et seq.). Now three years later, after having handled more than $13,000,000.00 in gross receipts, Trustees...

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