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COHEN v. KOENIG

No. 92 Civ. 4463 (SAS).

918 F.Supp. 719 (1996)

Stanley COHEN, Gerald A. Garfinkle and Eastern Artists and Drafting Materials, Inc., Plaintiffs, v. Elliot KOENIG and Robert Koenig, Defendants.

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

February 27, 1996.

Attorney(s) appearing for the Case

Gary J. Langer, New York City, for Stanley Cohen, Gerald A. Garfinkle, Eastern Artists and Drafting Materials, Inc.

Regina A. Matejka, Edwards & Angell, New York City, Lisa K. Morgan, Hebb & Gitlin, Hartford, CT, for Elliott Koenig, Robert Koenig.

Lisa K. Morgan, Hebb & Gitlin, Hartford, CT, for David Cousins, Blum, Shapiro & Company, P.C., Victoria M. Bittner, Bernard Blum, Peter A. Bourdon, Steven W. Caldwell, Adam P. Cohen, Benjamin E. Cohen, Bernard M. Cohen, Lawrence C. Davis, Morton H. Gavens, Seymour Gavens, Steven M. Guest, Douglas A. Joseph, Frederick J. Kaplan, Conrad A. Kappel, Diane V. Libby, Alan Mandell, Alfred Rosenthal, Marshall A. Rulnick, Lawrence H. Rustin, Michael A. Samartino, Julius S. Shapiro, John D. Spatcher.

OPINION AND ORDER

SCHEINDLIN, District Judge:

I. BACKGROUND

In early 1989, the Koenig Corporation sought to acquire the assets of Eastern Artists and Drafting Materials, Inc. After some negotiation, the Koenig Corporation agreed to purchase Eastern's assets on a part cash, part credit basis. In March 1991, before all the payments were made, the Koenig Corporation filed for bankruptcy under Chapter 11 of the Bankruptcy Code.

Plaintiffs...

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