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IN RE RICHTON INTERN. CORP.

Bankruptcy Nos. 80 B 10374, 80 B 10375 and 80 B 10376.

12 B.R. 555 (1981)

In re RICHTON INTERNATIONAL CORPORATION, also d/b/a Bond Street, Ltd., a division and Ronay, a division, Debtor. In re The RICHTON JEWELRY COMPANY, INC., formerly known as Coro, Inc., also d/b/a Aspen Skiwear, a division and the Richton Headwear Company, a division, Debtor. In re RICHTON SPORTSWEAR, INC., Debtor.

United States Bankruptcy Court, S.D. New York.

July 16, 1981.

Attorney(s) appearing for the Case

Stroock, Stroock & Lavan, New York City, for debtors.

DeBevoise, Plimpton, Lyons & Gates, New York City, for Arthur Anderson & Co.

Adler, Pollock & Sheehan, Providence, R.I., for Koffler Corp.

Weil, Gotshal & Manges, New York City, for Bank Creditors.

Cole & Deitz, New York City, for Richton.

Gelberg & Abrams, New York City, for Creditors Committee.

MEMORANDUM OPINION

JOHN J. GALGAY, Bankruptcy Judge.

On March 18, 1980 Richton International Corporation (International), Richton Jewelry Company, Inc., (Jewelry) and Richton Sportswear, Inc., (Sportswear) each filed a petition for reorganization under Chapter 11 of the Bankruptcy Code. Pursuant to the provisions of Section 1108 of the Code each Debtor has continued to operate its business. On April 10, 1980 the...

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