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  5. 144 B.R. 663 (1992)
 

IN RE COATED SALES, INC.

Bankruptcy Nos. 88-B-11331 (CB) through 88-B-11336 (CB), Adv. Nos. 88-5915A, 89-6038A.

144 B.R. 663 (1992)

In re COATED SALES, INC., et al., Debtors. COATED SALES, INC., Plaintiff, v. FIRST EASTERN BANK, N.A., Defendant. COATED SALES, INC., Plaintiff, v. Ernest GLANTZ, Defendant.

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

September 16, 1992.

Attorney(s) appearing for the Case

Kaye, Scholer, Fierman, Hays & Handler, New York City by Lester Kirshenbaum, Joseph Pash, for Coated Sales, Inc.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City by Robert Smith, Karen Breslow, for First Eastern Bank, N.A.

Hellring, Lindeman, Goldstein & Siegel, Newark, N.J. by Rachel Davidson, for Ernest Glantz.

DETERMINATION OF DEBTOR'S SOLVENCY UNDER § 547(b)(3) OF THE BANKRUPTCY CODE

CORNELIUS BLACKSHEAR, Bankruptcy Judge.

BACKGROUND

The debtor, Coated Sales, Inc. ("CSI," "Debtor" or "Plaintiff"), a specialty textile converting company, was formed in 1974 by Michael Weinstein, Ernest Glantz and Richard Bober. Over the course of five years starting in or about 1983, these three officers concocted a massive fraud involving fictitious invoice billings...

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