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IN RE RAINBOW TRUST, BUSINESS TRUST

Bankruptcy No. 94-10290, Adv. No. 96-1002.

200 B.R. 785 (1996)

In re The RAINBOW TRUST, BUSINESS TRUST, Debtor. The RAINBOW TRUST, BUSINESS TRUST, and the Unsecured Creditors Committee, Plaintiff, v. MOULTON CONSTRUCTION, INC., Defendant.

United States Bankruptcy Court, D. Vermont.

October 4, 1996.

Attorney(s) appearing for the Case

J.T. Brighton, Sheehan, Phinney, Bass & Green, P.C., Manchester, New Hampshire, for Moulton Construction (Moulton).

J. Schwidde, Glinka & Schwidde, Rutland, Vermont and R.H. Sinzheimer, Albany, New York, for Debtor Rainbow Trust, Business Trust (Rainbow).

MEMORANDUM DECISION GRANTING DEFENDANT'S MOTION FOR SUMMARY JUDGMENT

FRANCIS G. CONRAD, Bankruptcy Judge.

Before us1, on cross-motions for summary judgment, is the issue of whether Moulton is entitled to a holdback amount of $159,250 plus interest or whether Moulton must instead turn over funds previously distributed to it as a secured creditor. We hold that Moulton is entitled to the holdback amount, plus interest, as a matter...

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