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IN RE BEN FRANKLIN RETAIL STORE INC.

Bankruptcy Nos. 96 B 19482, 96 B 19494, 96 B 19489, 96 B 19501, 96 B 19483, and 96 B 19497.

210 B.R. 315 (1997)

In re BEN FRANKLIN RETAIL STORE INC., et. al., Debtor.

United States Bankruptcy Court, N.D. Illinois, Eastern Division.

May 27, 1997.

Attorney(s) appearing for the Case

Allan S. Brilliant, Christopher J. Horway, Jeffrey M. Schwartz, Holleb & Coff, Chicago, IL, for Debtors.

Gerald Munitz, Alan P. Solow, Randall L. Klein, Goldberg, Kohn, Bell, Black, Rosenbloom & Moritz, Chicago, IL, J. Andrew Rahl, Jeffrey L. Glatzer, Anderson, Kill & Olick, P.C., New York City, for Jackson National Life Insurance Co., and Foothill Capital Corp., for Respondent.

Stephen Garcia, Hopkins & Sutter, Chicago, IL, for Unsecured Creditors' Committee.

Michael Eidelman, Altheimer & Gray, Chicago, IL, for Official Bondholders' Committee.

Michael Desmond, Dept. of Justice, Office of U.S. Trustee, Chicago, IL.

Memorandum Opinion

RONALD BARLIANT, Bankruptcy Judge.

The law firm of Holleb & Coff represents the Debtors. They have reached an agreement with the secured lenders whereby they would be compensated under § 506(c) of the bankruptcy code1 for their work completing the liquidation of the property of the estate. The secured lenders (Jackson National Life Insurance Company and Foothill Capital Corporation) have a lien...

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