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IN RE KEENE CORP.

Bankruptcy No. 93 B 46090 (SMB). Adv. No. 94-8015A.

164 B.R. 844 (1994)

In re KEENE CORPORATION, Debtor. KEENE CORPORATION, Plaintiff, v. Jessie D. COLEMAN, et al., Defendants.

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

March 3, 1994.

Attorney(s) appearing for the Case

Berlack Israels & Lieberman (Carole L. Fern, Edward S. Weisflener, Diane C. Beveridge, Janice B. Grubin, of counsel), New York City, Gainsburg & Hirsch, Purchase, NY, for debtor/plaintiff.

Levy Phillips & Konigsberg (Stanley J. Levy, of counsel), New York City, for certain creditors.

Marcus Montgomery Wolfson & Burten, P.C. (Leon C. Marcus, John J. Preefer, of counsel), New York City, for Official Committee of Unsecured Creditors.

Arthur J. Gonzalez, Acting U.S. Trustee (Brian Masumoto, of counsel), New York City.

MEMORANDUM DECISION GRANTING MOTION FOR PRELIMINARY INJUNCTION AND DIRECTING THE APPOINTMENT OF AN EXAMINER

STUART M. BERNSTEIN, Bankruptcy Judge.

The debtor-in-possession, Keene Corporation ("Keene"), seeks declaratory and injunctive relief preventing the continuation of approximately 1,600 lawsuits. Commenced by Keene's creditors and pending throughout the country, the lawsuits challenge the legality of Keene's transfer of over $200 million...

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