IN RE B.S. LIVINGSTON & CO., INC.

Civ. A. No. 94-3535 (MTB). Bankruptcy No. 92-20480G. Adv. No. 93-2301.

186 B.R. 841 (1995)

In re B.S. LIVINGSTON & CO., INC., Debtor. Robert GIBBONS, et al., Plaintiffs, v. STEMCOR USA, INC., et al., Defendants.

United States District Court, D. New Jersey.

August 23, 1995.


Attorney(s) appearing for the Case

Myron S. Lehman, Lehman, Lehman & Gruber, Livingston, NJ, for appellants.

William S. Katchen, Lowenstein, Sandler, Kohl, Fisher & Boylan, Roseland, NJ, Robert J. Stickles, Carpenter, Bennett & Morrissey, Newark, NJ, for appellees.


BARRY, District Judge.

At the heart of this adversary complaint is a very substantial allegation that the former principals of the debtor corporation orchestrated a blatant fraudulent conveyance several months prior to the filing of a bankruptcy petition. As a result, the complaint alleges, several banks, who were secured creditors to the tune of millions of dollars, were left with little more than the empty husk of the debtor from which to recoup their losses.

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