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IN RE GUIMOND FARMS, INC.

Bankruptcy No. 77-1968-HL.

10 B.R. 177 (1981)

In re GUIMOND FARMS, INC., Bankrupt. George STEARNS, Trustee of New England N.F.O. Member Dairy Custodial Account, Plaintiff, v. FALL RIVER TRUST COMPANY, Guimond Farms, Inc., and Herbert C. Kahn, Trustee, Defendants.

United States Bankruptcy Court, D. Massachusetts.

March 27, 1981.

Attorney(s) appearing for the Case

Ellen Mercer Fallon, Langrock, Sperry, Parker & Stahl, Middlebury, Vt., for plaintiff.

Leonard M. Salter, Wasserman & Salter, Boston, Mass., for Bank.

Mark N. Berman, Widett, Slater & Goldman, Boston, Mass., for Trustee.

Joel B. Rosenthal, Theise & Rosenthal, Boston, Mass., for bankrupt.

MEMORANDUM ON MOTION TO DISMISS AND SANCTIONS

HAROLD LAVIEN, Bankruptcy Judge.

I. Facts and Procedural Background

Guimond Farms, Inc., (hereinafter Bankrupt) filed a Petition for an arrangement under Chapter XI of the Bankruptcy Act on August 23, 1977. Just prior to this date, the Bankrupt's account debtors had been notified by the Fall River Trust Company (hereinafter Bank) that it held a first lien on the Bankrupt's accounts receivable as...

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