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IN RE INTERNATIONAL DISTRIBUTION CENTERS, INC.

No. 88 CIV 4133 (KC).

103 B.R. 420 (1989)

In re INTERNATIONAL DISTRIBUTION CENTERS, INC., Debtor. OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF INTERNATIONAL DISTRIBUTION CENTERS, INC., Plaintiff, v. JAMES TALCOTT, INC. also formerly known as James Talcott Business Credit, Inc. and now known as Congress Financial Corporation, Defendant.

United States District Court, S.D. New York.

July 24, 1989.

Attorney(s) appearing for the Case

Helen Davis Chaitman, Ross & Hardies, Somerset, N.J., for Gerald Eskow.

John F. Scheffel, Kissam & Halpin, New York City, for trustee, John Pereina.

Gilbert Backenroth, Brian Wild, Hahn & Hessen, New York City, for Congress Financial Corp.

AMENDED MEMORANDUM OPINION*

CONBOY, District Judge:

This is an appeal from an Order of the Bankruptcy Court entered on April 27, 1988, upon the Trustee's application, approving a settlement of proceedings whereby an action against Congress Financial Corporation, successor to James Talcott Business Credit, Inc. ("Talcott") was settled by payment of $50,000 to the Debtor's bankruptcy estate. Although the Bankruptcy Judge did not...

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