IN RE HARNISCHFEGER INDUSTRIES, INC.

Bankruptcy No. 99-2171-(PJW). Civ.A.No. 01-39-RRM.

270 B.R. 188 (2001)

In re HARNISCHFEGER INDUSTRIES, INC., et al., Debtors. Harnischfeger Industries, Inc. et al., Plaintiffs, v. Wisconsin Department of Workforce Development, Defendant.

United States District Court, D. Delaware.

December 5, 2001.


Attorney(s) appearing for the Case

Laura Davis Jones, Christopher J. Lhulier, Pachulski, Stang, Ziehl, Young & Jones, P.C., Wilmington, Delaware, Marty R. Howard, David F. Loeffler, Krukowski & Costello, Milwaukee, Wisconsin, James H.M. Sprayregen, Anne Marrs Huber, Kirkland & Ellis, Chicago, Illinois, for debtors.

Allison E. Reardon, Division of Revenue, Department of Finance, State of Delaware, Wilmington, Delaware, Richard Briles Moriarty, Wisconsin Department of Justice, Madison, Wisconsin, for Wisconsin Department of Workforce Development.

Robert J. Dehney, Jason W. Staib, Morris, Nichols, Arsht & Tunnell, Wilmington, Delaware, Lewis Kruger, Wendell H. Adair, Jr., Curtis C. Mechling, Stroock & Stroock & Lavan, LLP, New York City, for Official Committee of Unsecured Creditors of Beloit Corporation.


OPINION

McKELVIE, District Judge.

This is a bankruptcy case. The debtors are Harnischfeger Industries, Inc. and Beloit Corporation. Harnischfeger is a holding company that owns 80% of the stock of Beloit. On June 7, 1999, both debtors filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code, 11 U.S.C. §§ 101-1330. The assets of Beloit were eventually divided into separate business...

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