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IN RE RAINBOW TRUST, BUSINESS TRUST

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

207 B.R. 70 (1997)

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.

March 17, 1997.

Attorney(s) appearing for the Case

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

J. Schwidde, Glinka & Schwidde, Rutland, VT and R.H. Sinzheimer, Albany, NY, for Debtor Rainbow Trust, Business Trust (Rainbow).

MEMORANDUM DECISION ON MOTION TO RECONSIDER GRANTING OF SUMMARY JUDGMENT

FRANCIS G. CONRAD, Bankruptcy Judge.

Before us1 is a motion to reconsider our order granting summary judgment to Moulton and awarding it a holdback amount of $159,250 plus interest. Rainbow argues that the court has made an error of law which, if corrected, would require Moulton to turn over funds previously distributed to it as a secured creditor, rather...

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