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IN RE UNIVERSAL MINERALS, INC.

Bankruptcy No. 78-696.

25 B.R. 799 (1982)

In re UNIVERSAL MINERALS, INC., a Pennsylvania corporation, and Cambria Mining & Manufacturing Company, a wholly owned subsidiary, Debtors.

United States Bankruptcy Court, W.D. Pennsylvania.

October 21, 1982.

Attorney(s) appearing for the Case

I. Samuel Kaminsky, Johnstown, Pa., for trustee.

Thomas A. Swope, Jr., Ebensburg, Pa., for Johnstown Bank and Trust.

Myron I. Markovitz, Johnstown, Pa., Dino S. Persio, Rosemary Persio, Francis Mardula, Ebensburg, Pa., Samuel D. Clapper, Somerset, Pa., Samuel F. Rizzo, Johnstown, Pa., John W. Taylor, Ebensburg, Pa., Sanford M. Lampl, Pittsburgh, Pa., for debtor-in-possession.

David P. Helwig, Leroy L. Lewis, Jr., Ronald Werhnyak, Edmund S. Raffin, III, Pittsburgh, Pa., for Republic Steel.

Donald A. Brown, Harrisburg, Pa., for Com. of Pa., Dept. of Environmental Resources.

Kenneth P. Simon, Pittsburgh, Pa., for Bethlehem Corp.

Melvin Caplan, Atty. Gen., Pittsburgh, Pa., for Com. of Pa.

Henry Gusky, Pittsburgh, Pa., for United Mine Workers.

MEMORANDUM OPINION

JOSEPH L. COSETTI, Bankruptcy Judge.

This case arises under the former Bankruptcy Act. The principal issue before the Court is the distribution of funds produced from the sale of secured assets of the Debtor.

STATEMENT OF PERTINENT FACTS

Universal Minerals, Inc. ("Universal") filed for protection under Chapter XI of the Bankruptcy Act on October 27, 1978. One of its assets was the stock of its wholly owned subsidiary...

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