In re SACO LOCAL DEVELOPMENT CORP., Leather Comfort Corporation, Kirstein Leather Co., d/b/a Saco Tanning Corp., Kirstein Split Corporation, Debtors.
SACO LOCAL DEVELOPMENT CORP., Leather Comfort Corporation, Kirstein Leather Co., d/b/a Saco Tanning Corp., Kirstein Split Corporation, Plaintiffs,
v.
ARMSTRONG BUSINESS CREDIT CORP., M. Aschheim Co., Inc., Economic Development Administration, City of Saco, Lazere Financial Corporation, Maine Guaranty Authority Mutual Life Insurance of New York, Defendants,
Creditors' Committee, Intervenor,
J.W. Penney, Intervenor.
United States Bankruptcy Court, D. Maine.https://leagle.com/images/logo.png
August 5, 1981.
August 5, 1981.
Attorney(s) appearing for the Case
Gerald S. Cope, Portland, Me., Alan L. Lefkowitz, Gaston, Snow & Ely Bartlett, Boston, Mass., for debtors.
George Marcus, Pierce, Atwood, Scribner, Allen, Smith & Lancaster, Portland, Me., Jon D. Schneider, Goodwin, Proctor & Hoar, Boston, Mass., for Armstrong Business Credit Corp.
Frederick G. Fisher, Jr., Mark Polbaum, Hale & Dorr, Boston, Mass., for M. Aschheim Co., Inc.
Mark Terison, Asst. U.S. Atty., Portland, Me., for Economic Development Administration.
Ronald Ayotte, Saco, Me., for City of Saco.
George Marcus, Pierce, Atwood, Scribner, Allen, Smith & Lancaster, Portland, Me., for Lazere Financial Corp.
Charles H. Abbott, Lewiston, Me., for Maine Guaranty Authority and Mutual Life Insurance of New York.
Andrew Cadot, Portland, Me., for J.W. Penney & Co.
Gregory Tselikis, Charles Miller, Bernstein, Shur, Sawyer & Nelson, Portland, Me., for Creditors' Committee.
U. Charles Remmel, III, Kelly, Remmel & Zimmerman, Portland, Me., Barry Portnoy, Sullivan & Worcester, Boston, Mass., for NKL Tanning.
P. Benjamin Zuckerman, Verrill & Dana, Portland, Me., for Saco Leather.
United States Bankruptcy Court, D. Maine.
MEMORANDUM DECISION REGARDING RECORD ON APPEAL
FREDERICK A. JOHNSON, Bankruptcy Judge.
On April 13, 1981, this Court entered an Order authorizing the sale of substantially all of the Debtors' assets to NKL Tanning, Inc. (NKL).
Two appeals were taken from that Order to the Bankruptcy Appellate Panel.1 On April 14, 1981, Defendant M. Aschheim Co., Inc. (Aschheim) filed its notice of appeal and on the next day, April 15...
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