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IN RE CAROLEE'S COMBINE, INC.

Bankruptcy No. B77-268A.

3 B.R. 324 (1980)

In re CAROLEE'S COMBINE, INC., Bankrupt. E. Penn NICHOLSON, Trustee, Plaintiff, v. Jay CORE, Defendant.

United States Bankruptcy Court, N.D. Georgia, Atlanta Division.

March 31, 1980.

Attorney(s) appearing for the Case

Paul W. Bonapfel, Atlanta, Ga., for plaintiff.

Robert S. Gunter, Little Rock, Ark., for defendant.

ORDER

HUGH ROBINSON, Bankruptcy Judge.

This case arises out of a no-minimum, no-reserve auction venture conducted by the bankrupt Carolee's Combine, Inc., in Atlanta, Georgia, on October 8 and 9, 1976. The auction failed, grossing only $625,000.00 against liabilities of $850,000.00. Because the only assets of the bankrupt were the items sold at the auction, it was insolvent both before and after the auction.

Included in the bankrupt's debt of $850...

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