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IN RE ANTWERP DIAMOND, INC.

Bankruptcy Nos. B92-10152, B92-10153.

138 B.R. 865 (1992)

In re ANTWERP DIAMOND, INC. and Royal Acquisition, Inc., Debtors.

United States Bankruptcy Court, N.D. Ohio, E.D.

April 17, 1992.

Attorney(s) appearing for the Case

David O. Simon, Cleveland, Ohio, for debtor.

Saul Eisen, Javitch, Block, Eisen & Rathbone, Cleveland, Ohio trustee.

Stephen D. Hobt, Cleveland, Ohio for Society National Bank.

Brian A. Bash, Cleveland, Ohio, for Continental Jewelry.

Paul Greenberger, Beachwood, Ohio, for Gogalick & Sons Corp.

Lawrence C. Oscar, Hahn, Loeser & Parks, Cleveland, Ohio for Larry J.B. Robinson.

James M. Lawniczak, T. David Mitchell, Calfee, Halter & Griswold, Cleveland, Ohio.

Patrick J. Keating, Buckingham, Doolittle & Burroughs, Akron, Ohio for Harold Freeman Jewelry Mfg. Co.

Glenn Schmitt, Thompson, Hine & Flory, Cleveland, Ohio for Iverson Mall Ltd. Partnership, Inc.

Kent C. Krause, Spears & Riley, P.C., Dallas, Texas for Lendorff-Tysons.

Mitchell Devack, Franklin Square, N.Y. for Unsecured Creditors Committee.

Gerald S. Krainess, Cleveland, Ohio for Pancis Gems, Inc.

Richard Phillips, Stephen Cheatham, Carol A. Jones, Benesch, Friedlander, Coplan & Aronoff, Cleveland, Ohio for trustee.

Jeffrey P. Harris, Harris, Harris & Field, Cincinnati, Ohio for Schottenstein Stores Corp.

MEMORANDUM OF OPINION AND ORDER

RANDOLPH BAXTER, Bankruptcy Judge.

Debtor corporations Antwerp Diamond Centre, Inc. (Antwerp) and Royal Acquisition Corporation (Royal), retail jewelers, caused to be filed their respective voluntary Chapter 11 petitions on January 13, 1992 and continued business operations as debtors-in-possession. Separately, the Debtors operated retail jewelry stores in various shopping mall locations in Northeast Ohio and in the metropolitan...

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