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STATE STREET BANK & TRUST CO. v. BROCKRIM, INC.

No. 95-2345.

87 F.3d 1487 (1996)

STATE STREET BANK & TRUST COMPANY, Plaintiff, Appellee, v. BROCKRIM, INC., Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided July 8, 1996.

Attorney(s) appearing for the Case

Stephen F. Gordon, Boston, MA, for appellant.

Kevin W. Clancy, Boston, MA with whom Thomas W. Heintschel, Toledo, OH, Charles L. Glerum and Sara A. Walker Boston, MA, were on brief for appellee Hoolahan.

Sara A. Walker with whom Kevin W. Clancy, Boston, MA, Thomas W. Heintschel, Toledo, OH, and Charles L. Glerum, Boston, MA, were on brief for appellee State Street Bank & Trust Company.

Before CYR, Circuit Judge, COFFIN and BOWNES, Senior Circuit Judges.

COFFIN, Senior Circuit Judge.

Appellant Brockrim, Inc., entered receivership upon being sued by State Street Bank & Trust Company ("State Street") on unpaid obligations. The receiver, in an effort to satisfy all debts, pursued the sale of Brockrim's assets in Michigan and Ohio. The district court, in separate orders, approved the sale of both sets of assets but, because of the possibility that the Michigan sale could cover the debt, made the Ohio sale contingent...

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