IN RE CORSO STEIN ENTERPRISES, INC.

Bankruptcy No. 86-03341.

79 B.R. 584 (1987)

In re CORSO STEIN ENTERPRISES, INC., Debtor.

United States Bankruptcy Court, D. New Jersey.

November 2, 1987.


Attorney(s) appearing for the Case

Richard Shaine, Stark and Stark, for trustee.

William Wolfson, Wolfson and Knee, for Official Unsecured Creditors Committee.

Helen Davis Chaitman, Ross and Hardies, and Frederick Dennehy, Wilentz, Goldman and Spitzer, for Amboy-Madison Bank and GS Realty Corp.

Laurie Rush-Masuret, John J. Rush, P.A., for First Indem. of America Ins. Co.

Marianne McKenzie, Greenbaum, Rowe, Smith, Ravin, Davis and Bergstein for Whispering Pines Homeowners Ass'n.

W. Cary Edwards, Atty. Gen., Susan Doppelt-LaPoff, Deputy Atty. Gen., Trenton, N.J., for State of N.J., Dept. of Community Affairs.

Barry Frost, Teich, Groh and Frost, Trenton, N.J., for contract purchasers.

Dale W. Baker, New Brunswick, N.J., for debtor.


WILLIAM H. GINDIN, Bankruptcy Judge.

This matter arises as a result of a motion made by Amboy-Madison National Bank (Bank) to authorize the bank to honor a draw under a letter of credit issued to First Indemnity of America Insurance Company (F.I.A.) for the amount which F.I.A. has paid to former contract purchasers of the debtor. The trustee responds by seeking an order directing that F.I.A. marshal assets and proceed against individual indemnitors.

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