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MATTER OF BEVILL, BRESLER & SCHULMAN, INC.

Civ. A. No. 85-2224, Adv. No. 85-4075.

59 B.R. 353 (1986)

In the Matter of BEVILL, BRESLER & SCHULMAN, INC., Debtor, FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF LINCOLN, Plaintiff, v. BEVILL, BRESLER & SCHULMAN, INC.; Richard W. Hill, as Trustee of Bevill, Bresler & Schulman, Inc.; Security Pacific Clearing & Service Corporation, Defendants.

United States District Court, D. New Jersey.

March 25, 1986.

Attorney(s) appearing for the Case

Davis Polk & Wardwell by Lowell Gordon Harriss, New York City, for plaintiff.

McCarter & English by Hayden Smith, Jr., Newark, N.J., for defendant Richard W. Hill.

Theodore H. Focht, Gen. Counsel, Securities Investor Protection Corp. by Michael E. Don, Josephine Wang, Washington, D.C., for defendants.

OPINION

DEBEVOISE, District Judge.

Introduction

This is an adversary proceeding brought by First Federal Savings & Loan of Lincoln ("Lincoln") against Bevill, Bresler & Schulman, Inc. ("BBS, Inc." or "the Debtor"); Richard W. Hill, as Trustee of BBS, Inc.; and Security Pacific Clearing & Services Corporation ("SePac") in the liquidation proceeding of BBS, Inc. pursuant to the Securities...

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