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IN RE KREIDLER IMPORT CORP.

Bankruptcy No. 79-11947.

4 B.R. 256 (1980)

In re KREIDLER IMPORT CORPORATION, Alleged Debtor.

United States Bankruptcy Court, D. Maryland.

May 14, 1980.

Attorney(s) appearing for the Case

Alan S. Kerxton, Martin Jacobs, Earl W. Kinther, Washington, D. C, for Kreidler Import Corp., Inc.

E. Stephen Derby, Baltimore, Md., for Kreidler Werke, GmbH.

MEMORANDUM OPINION

GLENN J. GOLDBURN, Bankruptcy Judge.

On October 30, 1979, Kreidler Werke GmbH (hereafter KW) filed a petition alleging that the Kreidler Import Corporation (KIC) is not paying its debts as they become due. KIC is the United States marketer for KW's mopeds which are manufactured in Germany. The parties stipulated that there are more than twelve holders of claims which aggregate over $5,000.00.

In view of these stipulations, Section...

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