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IN RE PRESENT CO., INC.

Bankruptcy Nos. 91-23618 K, 92-20372 K.

141 B.R. 18 (1992)

In re The PRESENT CO., INC., Debtor. In re DANIELS TOBACCO CO., INC., Debtor.

United States Bankruptcy Court, W.D. New York.

June 8, 1992.

Attorney(s) appearing for the Case

Francis E. Kenny, Robert E. Bramlet, Nixon, Hargrave, Devans & Doyle, Rochester, N.Y., for debtors.

Paul Traub, Traub, Bonacquist & Fox, New York City, for Official Creditors' Committee.

William J. Brown, Phillips, Lytle, Hitchcock, Blaine & Huber, Buffalo, N.Y., Douglas H. Meal, Harold J. Marcus, Ropes & Gray, Boston, Mass., for Senior Lending Associates I, L.P., Mezzanine Lending Associates I, L.P., Mezzanine Lending Associates II, L.P. and Mezzanine Lending Associates III, L.P.

OPINION AND ORDER

MICHAEL J. KAPLAN, Bankruptcy Judge.

Here the debtors seek leave, under Bankruptcy Rule 9019(a) to compromise for $280,000, all possible claims these estates might have against certain insiders. The official Creditors' Committee of Present Company, Inc. ("PCI") opposes. (There is no Creditors' Committee in the Daniels case.) Debtor PCI was a chain of catalogtype retail stores, as was its subsidiary, the debtor Daniels. (Daniels' stores...

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