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IN RE M & M TRANSP. CO.

Bankruptcy Nos. 77-B-122, 78-B-2201.

13 B.R. 861 (1981)

In re M & M TRANSPORTATION COMPANY, Debtor. M & M TRANSPORTATION COMPANY, Plaintiff, v. SCHUSTER EXPRESS, INC., Defendant. In re DRAKE MOTOR LINES, INC., Bankrupt. John M. CHILCOTT, Trustee of Drake Motor Lines, Inc., Bankrupt, Plaintiff, v. NATIONAL RETAIL TRANSPORTATION, INC., Tel. Inc., and Walsh Trucking Co., Inc., Defendants.

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

September 2, 1981.

Attorney(s) appearing for the Case

Finley, Kumble, Wagner, Heine, Underberg & Casey, New York City, for plaintiff M & M Transportation Co.

Otterbourg, Steindler, Houston & Rosen, P.C., New York City, Brenner, Saltzman & Wallman, P.C., New Haven, Conn., for defendant Schuster Express, Inc.

Siegel, Sommers & Schwartz, New York City, for plaintiff Drake Motor Lines, Inc.

Platzer & Fineberg, New York City, for defendants National Retail Transportation, Inc., Tel, Inc. and Walsh Trucking Co., Inc.

OPINION

ROY BABITT, Bankruptcy Judge:

I.

The issue central to both of these actions involves the allocation of the risk of financial loss on either the seller or the purchaser of property of estates in bankruptcy occasioned by subsequent events when the agreements of sale are silent as to the occurrence of those events.

The property touched by the events following their purchase at open auction sales, in keeping with accepted procedures...

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