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IN RE PALOMAR ELEC. SUPPLY, INC.

No. 92-485-GT, Bankruptcy Nos. 88-06317-B7, 91-90551-M7.

138 B.R. 959 (1992)

In re PALOMAR ELECTRIC SUPPLY, INC., Debtor. Harold S. TAXEL, Trustee of the Chapter 7 Estate of Palomar Electric Supply, Inc., Plaintiff, v. MARINE MIDLAND BUSINESS LOANS, INC., a Delaware corporation; Torwest Acquisition Corporation, a Delaware corporation; Richard Torre; John Pouk; Robert Johnson; C.L. Douglass; Elizabeth Schroeder; Wilson B. Hart; Friedmann, Keto & Fingal, a law partnership; and K.C. Wright, dba Business Search, Defendants.

United States District Court, S.D. California.

April 1, 1992.

Attorney(s) appearing for the Case

James P. Hill, Susan E.H. Ragsdale, Sharon L. Rhodes, Sullivan, Hill, Lewin & Markham, San Diego, Cal., for plaintiff.

Victor A. Vilaplana, Christopher J. Smart, Sheppard, Mullin, Richter & Hampton, San Diego, Cal., for defendant Marine Midland Business Loans, Inc.

MEMORANDUM OPINION AND ORDER REGARDING MOTION FOR WITHDRAWAL OF REFERENCE

GORDON THOMPSON, Jr., District Judge.

FACTUAL BACKGROUND

This case arises out of the leveraged buy-out of all of the stock of Palomar Electric Supply, Inc. ("Palomar") by Torwest Acquisition Corporation ("Torwest") on January 30, 1988. It is alleged that Marine Midland, one of the defendants and the moving party, directly participated in a common plan or design to commit tortious...

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