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BEATRICE CO. v. RUSTY JONES, INC.

No. 88 B 18708.

153 B.R. 535 (1993)

BEATRICE COMPANY, Appellant, v. RUSTY JONES, INC., Appellee. In re RUSTY JONES, INC., Debtor.

United States District Court, N.D. Illinois, E.D.

April 14, 1993.

Attorney(s) appearing for the Case

Frank L. Butler, David Bruce Love, Winston & Strawn, Chicago, IL, for appellant.

Edith F. Canter, Much, Shelist, Freed, Denenberg, Ament & Eiger, P.C., Glenn R. Heyman, Dannen, Crane, Heyman & Simon, Chicago, IL, for appellee.

MEMORANDUM OPINION AND ORDER

PLUNKETT, District Judge.

Rusty Jones, Inc. has been in bankruptcy since 1988. It is now apparent that it will not survive that proceeding — it must be liquidated. The problem is how and when. The difficulties with the Rusty Jones bankruptcy are twofold. First, the assets are for all intents and purposes unknown. While the estate currently has only $1.4 million in cash, it has a potentially large asset in the form...

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