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IN RE EMERALD ACQUISITION CORP.

Bankruptcy No. 93 B 17632. Adv. No. 93 A 01617.

170 B.R. 632 (1994)

In re EMERALD ACQUISITION CORPORATION, Debtor. ARTRA GROUP, INCORPORATED, Plaintiff, v. SALOMON BROTHERS HOLDING COMPANY, INC., Salomon Brothers, Inc., D.P. Kelly & Associates, L.P., Donald P. Kelly, Charles K. Bobrinskoy, James L. Massey, William Rifkind, and Michael J. Zimmerman, Defendants.

United States Bankruptcy Court, N.D. Illinois, Eastern Division.

July 15, 1994.

Attorney(s) appearing for the Case

Alan Kolod of Moses & Singer, New York City, for plaintiff.

Thomas B. Walper of Munger, Tolles & Olson, Los Angeles, CA, and Phillip S. Beck of Bartlit, Beck, Herman, Palenchar & Scott, Chicago, IL, for defendants.

MEMORANDUM OPINION

JOHN D. SCHWARTZ, Chief Judge.

The matter before the court is the Motion of Artra Group, Inc. ("Artra") to Abstain and Remand its First Amended Complaint ("Complaint") to the Illinois State Court in DuPage County. The above named Defendants contest this motion, asserting that Artra's Complaint is properly before the court. For the reasons stated below, the court remands Counts I through IV of Artra's Complaint to the State Court and retains...

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