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IN RE TRAFFIC SAFETY CO., INC.

Bankruptcy No. 78-507G.

21 B.R. 669 (1982)

In re TRAFFIC SAFETY COMPANY, INC., Bankrupt. Leonard P. GOLDBERGER, Substitute Trustee, Plaintiff, v. Ralph HORAN Transamerica Insurance Co., Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

July 16, 1982.

Attorney(s) appearing for the Case

Donald M. Harrison, Fellheimer, Krakower & Eichen, Philadelphia, Pa., and Craig S. Boyd, Boyertown, Pa., for plaintiff, Leonard P. Goldberger, substitute trustee.

John C. McNamara, German, Gallagher & Murtagh, Philadelphia, Pa., for defendant, Transamerica Ins. Co.

Ralph Horan, Willow Grove, Pa., former trustee.

Leonard P. Goldberger, Fox, Rothschild, O'Brien & Frankel, Philadelphia, Pa., substitute trustee.

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issues at bench are: (1) whether the surety on a bond of the former trustee of the bankrupt's estate is liable for damages caused by the actions of the former trustee in suppressing the bidding at a public sale of the bankrupt's assets and (2) where the surety admits its liability for funds misappropriated by the former trustee, whether the surety is also liable for the increased administrative costs (in the...

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