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MATTER OF KEYSTONE CAMERA PRODUCTS CORP.

Bankruptcy Nos. 91-20381, 91-20382.

126 B.R. 177 (1991)

In the Matter of KEYSTONE CAMERA PRODUCTS CORPORATION, a Delaware Corporation, and Keystone Camera Corporation, a Delaware Corporation, Debtors.

United States Bankruptcy Court, D. New Jersey.

April 15, 1991.

Attorney(s) appearing for the Case

Ravin, Greenberg & Marks, Roseland, N.J. by Larry Lesnik, for debtors.

Spector Gadon & Rosen, Camden, N.J. by Alan S. Fellheimer, Special Counsel, for debtors.

Cole, Schotz, Bernstein, Meisel & Forman, Hackensack, N.J. by Michael D. Sirota, for Unsecured Creditors Committee.

Hannoch Weisman, Trenton, N.J. by Simon Kimmelman, and Otterberg, Steindler, Houston & Rosen, New York City by Richard Rubin and Jonathan N. Helfat, for Congress Financial Corp.

OPINION

WILLIAM F. TUOHEY, Bankruptcy Judge.

This matter came before the court in connection with two motions. Initially, the Unsecured Creditors' Committee moved before the court to convert the pending chapter 11 proceedings to a chapter 7 liquidation or, in the alternative, to appoint a chapter 11 operating trustee. In addition, Congress Financial Corporation moved before the court to vacate the stay to allow said financial institution to reclaim its collateral...

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