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IN RE PRUDENTIAL LINES, INC.

90 Civ. 1262 (RPP), 90 Civ. 1263 (RPP) (Cross-Appeal), Adv. No. 89-6430A.

119 B.R. 430 (1990)

In re PRUDENTIAL LINES INC., Debtor. The OFFICIAL COMMITTEE OF UNSECURED CREDITORS and Cold Spring Shipping, L.P., Plaintiffs-Appellees, v. PSS STEAMSHIP COMPANY, INC., Defendant-Appellant.

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

September 27, 1990.

Attorney(s) appearing for the Case

White & Case by Allan L. Gropper, New York City, for Official Committee of Unsecured Creditors.

Wilmer, Cutler & Pickering by Max O. Truitt, Washington, D.C., for Cold Spring Shipping, L.P.

Battle Fowler by W. Bruce Johnson, New York City, for defendant-appellant.

OPINION AND ORDER

ROBERT P. PATTERSON, Jr., District Judge.

This matter is before the Court on appeal from the December 19, 1989, decision of the United States Bankruptcy Court for the Southern District of New York (Buschman, J.) permanently enjoining defendant PSS Steamship Company ("PSS") under the automatic stay provision of 11 U.S.C. § 362(a)(3) from claiming a worthless stock deduction under the Internal...

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