IN RE HILLSBOROUGH HOLDINGS CORP.

Bankruptcy Nos. 89-9715-8P1 through 89-9746-8P1, Adv. Nos. 90-0003, 90-0004.

123 B.R. 1004 (1990)

In re HILLSBOROUGH HOLDINGS CORPORATION, et al., Debtors. HILLSBOROUGH HOLDINGS CORPORATION, et al., Plaintiffs, v. The CELOTEX CORPORATION, et al., Defendants.

United States Bankruptcy Court, M.D. Florida, Tampa Division.

April 13, 1990.


Attorney(s) appearing for the Case

Don Stichter, Tampa, Fla., Michael J. Crames, P.C., New York City, for debtors.

Charles Koob, New York City, for debtors, Sp. Counsel.

Elihu Inselbuch, and Carl Kravitz, Caplin & Drysdale, New York City, Marsha G. Rydberg, Rydberg, Goldstein & Bolves, P.A., Tampa, Fla., for Asbestos claimants.

Frank Cobb, Tampa, Fla., for several trade creditors.

Marc S. Kirschner, Jones, Day, Reavis & Pogue, New York City, Paul B. O'Hearn, Jones, Day, Reavis & Pogue, Atlanta, Ga., Zala Forizs, St. Petersburg, Fla., for Official Unsecured Creditors Committee.

Ann Acker, Chapman and Cutler, Chicago, Ill., for Kemper Financial Services, Inc.

P. Kevin Castel, Cahill, Gordon & Reindel, New York City, Charles Tatelbaum, Kass, Hodges & Massari, Tampa, Fla., for Drexel Burnham Lambert, Inc.

Jeffrey Warren, Michael B. Colgan, Holland & Knight, Tampa, Fla., for Jim Walter Corp. and Celotex Corp.

Laurence Greenwald, Stroock & Stroock & Lavan, New York City, John Genovese, Stroock & Stroock & Lavan, Miami, Fla., for Official Committee of Bondholders Committee.

Leonard Gilbert, Carlton, Fields, Ward, Emmanuel, Smith & Cutler, P.A., Tampa, Fla., for Kohlberg, Kravis, Roberts & Co.

Paul Bauch, Bell, Boyd & Lloyd, Chicago, Ill., for Continental Illinois Nat. Bank and Trust Co.

Marshall Reissman, Nixon and Nixon, Tampa, Fla., for Southeast Bank, N.A.

John Olson, Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, P.A., Tampa, Fla., for Mfrs. Hanover Trust Co. and Bankers Trust Co.

Robert Glenn, Glenn, Rasmussen, Fogarty, Merryday & Russo, Tampa, Fla., for Fidelity Investments.

Michael Horan, Addison, Ketchey & Horan, P.A., Tampa, Fla., for AmeriTrust Co. Nat. Ass'n and United Bank of Denver.

James Robinson, Burr & Forman, Birmingham, Ala., for Specification Rubber Products Co., Inc.

Lynn England, Office of the United States Trustee, Tampa, Fla.


PROPOSED FINDINGS OF FACT, CONCLUSIONS OF LAW AND RECOMMENDATION PURSUANT TO BANKRUPTCY RULE 5011 ON MOTION TO ABSTAIN

ALEXANDER L. PASKAY, Chief Judge.

THE MATTERS under consideration are raised in several not-yet-consolidated Chapter 11 cases filed by Hillsborough Holdings Corporation (HHC), the parent of Walter Industries and 30 of its subsidiaries, all of whom seek relief under Chapter 11 of the Bankruptcy Code. The immediate matters under consideration...

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