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IN RE PHOENIX MARINE CORP.

Bankruptcy No. 80-01174-N, Adv. No. 82-0027-N.

20 B.R. 424 (1982)

In re PHOENIX MARINE CORPORATION, Debtor. VIRGINIA NATIONAL BANK, and Small Business Administration, Plaintiffs, v. PHOENIX MARINE CORPORATION, and Marc Jacobson, Defendants, Boyd, Payne, Gates & Farthing, P.C., Intervenors.

United States Bankruptcy Court, E.D. Virginia, Norfolk Division.

May 25, 1982.

Attorney(s) appearing for the Case

Joseph R. Mayes, and Thomas E. Cabaniss, Kaufman & Canoles, Norfolk, Va., for Virginia National Bank and Small Business Administration.

Anthony F. Radd, Norfolk, Va., for Boyd, Payne, Gates & Farthing.

Lee Kelberg, Kelberg & Childress, Virginia Beach, Va., for debtor.

Marc Jacobson, Norfolk, Va., Trustee.

HAL J. BONNEY, Jr., Bankruptcy Judge.

Prior to the filing of its petition with this Court, the debtor was involved in a suit styled Phoenix Marine Corporation v. Bank of Virginia filed in the Circuit Court for the City of Portsmouth, Virginia [the Bank of Virginia suit]. After the debtor filed its bankruptcy petition, the trustee continued to pursue the claim in State court and eventually the Bank of Virginia suit was settled by the trustee and the defendant for ...

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