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IN RE GENERAL INDUSTRIES, INC.

Bankruptcy No. 86-40152-WOR, Adv. No. 87-4025.

79 B.R. 124 (1987)

In re GENERAL INDUSTRIES, INC., Debtor. GENERAL INDUSTRIES, INC. and Official Creditors Committee, Plaintiffs, v. Raymond E. SHEA, Defendant.

United States Bankruptcy Court, D. Massachusetts.

October 30, 1987.

Attorney(s) appearing for the Case

Darragh Kasakoff, Seder & Chandler, Worcester, Mass., for Creditors' Committee/plaintiff.

Steven Kressler, Kressler, Kressler & Pitnoff, Worcester, Mass., for debtor/plaintiff.

John W. Spillane, Worcester, Mass., for Raymond E. Shea/defendant.

OPINION

JAMES F. QUEENAN, Jr., Bankruptcy Judge.

The defendant, Raymond E. Shea ("Shea"), foreclosed upon real estate and equipment of General Industries, Inc. (the "Debtor"), and was the successful bidder at the separate auctions which were held. The Debtor and its official creditors committee have instituted this adversary proceeding, contending that the foreclosure sales were fraudulent transfers under § 548(a) of the Bankruptcy Code (11 U.S.C. ...

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