IN RE PHILADELPHIA ATHLETIC CLUB, INC.

Bankruptcy No. 80-02028G.

15 B.R. 60 (1981)

In re PHILADELPHIA ATHLETIC CLUB, INC., Debtor.

United States Bankruptcy Court, E.D. Pennsylvania.

October 14, 1981.


Attorney(s) appearing for the Case

Pace Reich, Pincus, Verlin, Hahn, Reich & Goldstein, Philadelphia, Pa., for debtor, Philadelphia Athletic Club, Inc.

Melvin Lashner, Adelman & Lavine, Philadelphia, Pa., for Leon W. Silverman and Elias H. Stein, objectors.

Arthur E. Dennis, Philadelphia, Pa., for Philadelphia Athletic Club Health Institute and a prospective purchaser.

Samuel Brodsky, Philadelphia, Pa., Trustee.


OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The question before us is whether we should appoint a trustee for the Philadelphia Athletic Club, Inc. ("the debtor"), a Pennsylvania corporation, which filed a petition for reorganization on August 18, 1980, and which has since been operating as a debtor in possession. On December 1, 1980, two of the debtor's stockholders, Elias H. Stein ("Stein") and Leon W. Silverman ("Silverman") filed an application for the...

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