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IN RE ORFA CORP. OF PHILADELPHIA

Bankruptcy Nos. 90-11253S, 90-11254S, 90-11255S, Adv. No. 90-0954S.

129 B.R. 404 (1991)

In re ORFA CORPORATION OF PHILADELPHIA, Debtor. In re ORFA CORP. OF AMERICA, Debtor. In re ORFA CORPORATION OF AMERICA (DEL.), Debtor. BRUCE ENERGY CENTRE LIMITED, Plaintiff, v. ORFA CORP. OF AMERICA, Orfa Corporation of America (Delaware), Orfa Corporation of Philadelphia Robert S. Taylor, Trustee, Euro American Financial Corporation, Euro American Capital Corporation, and Corsair Asset Management, Inc., Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

July 2, 1991.

Attorney(s) appearing for the Case

Louis H. Pollak, U.S. Dist. Court, Philadelphia, Pa., for the Eastern District of Pa.

Robert S. Taylor, Lewis, Eckert, Robb & Co., Plymouth Meeting, Pa., Trustee.

Warren Pratt, Drinker Biddle & Reath, Philadelphia, Pa., for Bruce Energy Center, Ltd.

Karen L. Turner, Philadelphia, Pa., for Security Pacific.

Matthew H. Krekstein, Schwartz & Krekstein, Philadelphia, Pa., for Creditors' Committee.

Michael L. Temin, Wolf, Block, Schorr & Solis-Cohen, Philadelphia, Pa., for Licensees.

James J. O'Connell, Asst. U.S. Trustee, Philadelphia, Pa., U.S. Trustee.

Christopher Kuhn, Silberman, Markovitz, Meo & Raslavich, Philadelphia, Pa., for Trustee.

Allen B. Dubroff, Gary P. Lightman, Astor, Weiss & Newman, Philadelphia, Pa., for debtor.

Jeffrey Kurtzman, Klehr, Harrison, Harvey, Branzburg, Ellers & Weir, Philadelphia, Pa., for Bondholders.

Frederick D. Lipman, Earl M. Forte, Blank, Rome, Comisky & McCauley, Philadelphia, Pa., for Euro American Financial Corp.

OPINION

DAVID A. SCHOLL, Bankruptcy Judge.

A. INTRODUCTION

Presently before us for disposition are the following related matters arising out of the case of three related Debtors holding certain valuable licenses of a process for recycling solid waste: (1) confirmation of the Second Amended Consolidated Plan of Reorganization ("the Plan") filed by Euro American Financial Corp. ("EAFC") and Corsair Asset Management, Inc. ("Corsair") (collectively ...

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