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IN RE PENICK PHARMACEUTICAL, INC.

Bankruptcy Nos. 94-B-42808, 94-B-42809(BRL), Adversary No. 98/8290A.

227 B.R. 229 (1998)

In re PENICK PHARMACEUTICAL, INC. and Penick Corporation, Debtors. UNOFFICIAL COMMITTEE OF EQUITY HOLDERS OF PENICK PHARMACEUTICAL, INC., Plaintiff, v. Drew McMANIGLE, as Chapter 11 Trustee of Penick Pharmaceutical, Inc. and Penick Corporation., Defendant.

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

November 30, 1998.

Attorney(s) appearing for the Case

Hodgson, Russ, Andrews, Woods & Goodyear, LLP by Garry M. Graber, New York City, for Defendant.

Menaker & Herrmann LLP by Michael J. Levin, New York City, for Plaintiff.

MEMORANDUM DECISION GRANTING DEFENDANT'S MOTION FOR SUMMARY JUDGMENT AND DISMISSING ADVERSARY PROCEEDING

BURTON R. LIFLAND, Bankruptcy Judge.

Before me are the cross-motions for summary judgment of, respectively, (1) the Defendant, Drew McManigle (the "Trustee"), the Chapter 11 Trustee of Penick Pharmaceutical, Inc, ("PPI") and its subsidiary, Penick Corporation (the "Debtor" and together with PPI, the "Debtors")...

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