IN RE SEAPHARM, INC.

Bankruptcy No. 88-04678.

126 B.R. 447 (1991)

In re SEAPHARM, INC.

United States Bankruptcy Court, D. New Jersey.

April 26, 1991.


Attorney(s) appearing for the Case

James G. Aaron, Schottland, Vernon, Aaron & Costanzo, Shrewsbury, N.J., for Peter Costanzo.

Roger Ward, Pitney, Hardin, Kipp & Szuch, Morristown, N.J., for trustee.

Joel Camche, Hallinan & Camche, New York City, for Banco Hispano Americano.


OPINION

WILLIAM H. GINDIN, Chief Judge.

I. Introduction

At the hearing on this matter which took place on March 18, 1991, the court determined that the actual costs of the auction should be borne by the secured creditor, Banco Hispano Americano. Additionally, determination was reserved as to whether or not the auctioneer was entitled to a commission from the estate on the sale of shares of stock in an entity known as PharmaMar. For the reasons...

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