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IN RE VALLEY LIQUORS, INC.

Bankruptcy No. 88 B 4599, Adv. No. 88 A 912.

103 B.R. 961 (1989)

In re VALLEY LIQUORS, INC., Debtor. The FIRST NATIONAL BANK OF CHICAGO, Plaintiff, v. VALLEY LIQUORS, INC., Debtor and Debtor in Possession in Case No. 88 B 4599, Abraham Schechter, as Agent for Mar-Salle, Inc., Daviess County Corp., Medley International, Inc., Medley Distilling Co., Medley Wine Co., Abraham Schechter, Vivian Schechter, Robert Schechter, Jane Schechter, and Jeffrey Schechter, and Hans Cornell Champagne Cellers, Inc., Defendant.

United States Bankruptcy Court, N.D. Illinois, E.D.

August 10, 1989.

Attorney(s) appearing for the Case

Robert W. Berliner, Jr., Berliner and Krasnow, Chicago, Ill., for defendant Abraham Schechter.

Pamela S. Hollis, Hollis & Johnson, Chicago, Ill., Trustee of the Estate of Valley Liquors, Inc.

Sandra T. Rasnak, Chicago, Ill., Office of the U.S. Trustee.

Michael L. Stone, Fagel, Haber & Maragos, Chicago, Ill., for plaintiff First Nat. Bank of Chicago.

Christopher G. Walsh, Rothschild, Barry & Myers, Chicago, Ill., for Hans Cornell Champagne Cellers, Inc.

MEMORANDUM OPINION ALLOWING DEFENDANT SCHECHTER'S MOTION TO DISMISS ADVERSARY COMPLAINT

JACK B. SCHMETTERER, Bankruptcy Judge.

The Debtor held an option to purchase the property in which it operated. It sold that option for $140,000.00. Plaintiff claims a prior lien on all net proceeds of sale. The First National Bank of Chicago as Plaintiff ("First National"), filed this adversary complaint seeking determination of the parties' respective rights to the proceeds...

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