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MAXWELL NEWSPAPERS, INC. v. TRAVELERS INDEM. CO.

No. 94 Civ. 1986 (RO).

170 B.R. 549 (1994)

In re MAXWELL NEWSPAPERS, INC. d/b/a Daily News, Debtor-Appellee, v. The TRAVELERS INDEMNITY COMPANY, Appellant.

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

July 29, 1994.

Attorney(s) appearing for the Case

Louis A. Scarella, Phillips, Nizer, Benjamin, Krim & Ballon, Garden City, NY, for appellant.

Howard Seife, Winston & Strawn, New York City, for debtor-appellee.

OPINION AND ORDER

OWEN, District Judge.

The Travelers Indemnity Company appeals from Bankruptcy Court Judge Brozman's January 1994 decision to vacate a Stipulation she had approved two years earlier. The Stipulation provided for the payment by Travelers to debtor Maxwell Newspapers of $41,034.00 and the recognition of certain reciprocal setoff rights, and also contained a provision releasing Travelers from any future liability to the debtor. Before its adoption...

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