MATTER OF BORNE CHEMICAL CO., INC.

Bankruptcy No. 80-00495.

54 B.R. 126 (1984)

In the Matter of BORNE CHEMICAL COMPANY, INC., a corporation of the State of New Jersey, Debtor.

United States Bankruptcy Court, D. New Jersey.

On Reconsideration May 9, 1984.


Attorney(s) appearing for the Case

Frank Vecchione, Crummy, Del Deo, Griffinger & Vecchione, Newark, N.J., for debtor.

Gilbert Backenroth, Hahn & Hessen, New York City, for Lincoln 1st Commercial Corp.

Rebecca Fields, Trenton, N.J., for Irwin Kimmelman, Atty. Gen., for State of N.J.


OPINION

D. JOSEPH DeVITO, Bankruptcy Judge.

At a hearing held on December 13, 1983, the Court considered the application of the debtor, Borne Chemical Company, Inc., seeking approval of two agreements authorizing the debtor to sell two parcels of real property, one to Bruncor Corp. for the sum of $425,000 — the other to Valley Forge Engineering Co. for $100.00. At the conclusion of the hearing and upon its finding that it was in the best interests...

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