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IN RE 680 FIFTH AVE. ASSOCIATES

Bankruptcy Nos. 92 B 44734(TLB) and 92 B 44735(TLB), Adversary No. 95-1395A.

218 B.R. 305 (1998)

In re 680 FIFTH AVENUE ASSOCIATES and 54th and Fifth Land Partners, Reorganized Debtors. 680 FIFTH AVENUE ASSOCIATES, on its own behalf and as successor-in-interest to 54th and Fifth Land Partners, Plaintiff, v. EGI COMPANY SERVICES INC., Engadine Holdings Inc., 54th Estate Corp., 680 Realty Partners and HFA Investor Services, Inc., Defendants. EGI COMPANY SERVICES INC., Engadine Holdings Inc., 54th Estate Corp., 680 Realty Partners and HFA Investor Services, Inc., Counterclaimants and Third Party Plaintiffs, v. 680 FIFTH AVENUE ASSOCIATES, Counterclaim Defendant, and Lodz Properties, L.P., Hensel Fifth Avenue Associates, L.P., Hensel 680 Realty Corp., Farrell C. Galser, J. Michael Broumas, Ober, Kaler, Grimes & Shriver, Steven L. Green, and S.L. Green Real Estate, Inc., Third Party Defendants.

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

February 20, 1998.

Attorney(s) appearing for the Case

Hahn & Hessen L.L.P. by Jeffrey L. Schwartz, Joshua I. Divack, Brown, Raysman & Millstein, L.L.P. by Kenneth M. Block, New York City, for Reorganized Debtor.

Ross & Hardies by Marshall Biel, Kathryn C. Spann, New York City, for EGI Company Services Inc., Engadine Holdings Inc., and HFA Investor Services, Inc.

OPINION DENYING SANCTIONS

TINA L. BROZMAN, Chief Judge.

Edward M. Strasser, who has moved for an award for sanctions, was the president of the former managing agent and, through a corporate vehicle, controlled the general partner of 680 Fifth Avenue Associates and its affiliated company, both of which were partnership debtors-in-possession under chapter 11 of the Bankruptcy Code. Together, the two debtors owned...

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