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IN RE W.T. GRANT CO.

No. 81 Civ. 5996 (KTD).

20 B.R. 186 (1982)

In re W.T. GRANT COMPANY, Bankrupt. David COSOFF, Helen Finkelstein, Eileen McGinnis, Jay Miller, Appellants, v. Charles G. RODMAN, Trustee-Appellee.

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

March 15, 1982.

Attorney(s) appearing for the Case

Davis, Polk & Wardwell, New York City, for appellee Morgan Guaranty Trust Co. of New York, Individually and as Agent; Philip C. Potter, Jr., Ogden N. Lewis, Denny Chin, New York City, of counsel.

Douglas F. Eaton, New York City, for appellants Eileen McGinnis and Jay Miller; Joanne Clifford Eaton, New York City, of counsel.

Weil, Gotshal & Manges, New York City, for trustee; Harvey Miller, Richard Krasnow, New York City, of counsel.

Brewer & Soeiro, New York City, for bondholders; Bradley R. Brewer, New York City, of counsel.

OPINION

KEVIN THOMAS DUFFY, District Judge:

David Cosoff, Helen Finkelstein, Eileen McGinnis and Jay Miller appeal pursuant to Bankr.R.P. 801 from Bankruptcy Judge Galgay's order approving a settlement between banks and subordinated debentureholders of bankruptcy W.T. Grant Company ("Grant"). The settlement offers debentureholders 19 cents on the dollar.1 Appellants argue that Judge Galgay committed errors of law and fact in...

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