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IN RE LIONEL CORP.

Bankruptcy Nos. 82 B 1031 through 82 B 10320.

29 B.R. 694 (1983)

In re The LIONEL CORPORATION, Lionel Leisure, Inc., Consolidated Toy Company, Debtors.

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

May 9, 1983.

Attorney(s) appearing for the Case

Weil, Gotshal & Manges, New York City, for Official Committee of Unsecured Creditors.

Angel & Frankel, P.C., New York City, for debtors.

Spengler, Carlson, Gubar, Brodsky & Rosenthal, New York City, for Powerline Commercial Industrial Center.

Hahn & Hessen, New York City, for Louis Gilbert and Molly Dashoff, applicants as landlord.

DECISION ON MOTION FOR REHEARING

EDWARD J. RYAN, Bankruptcy Judge.

On February 19, 1982, Lionel Leisure, Inc. ("Leisure") filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code. It continued in possession of its property and operation of its business as debtor in possession pursuant to sections 1107 and 1108 of the Code.

In a plan submitted to the Shareholders Committee and the Creditors Committee, Leisure indicated...

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