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IN RE PHICO GROUP, INC.

Bankruptcy No. 1-01-06636. Adversary No. 1-02-00033A.

304 B.R. 170 (2003)

In re PHICO GROUP, INC., Debtor. Phico Group, Inc., Plaintiff, v. Barry Persofsky, Michael P. Sullivan, Judith L. Anderson, Richard Kisielewski, Maynard R. Stufft, Richard J. Agostini, and Gary J. Schultz, Defendants.

United States District Court, M.D. Pennsylvania.

November 20, 2003.

Attorney(s) appearing for the Case

Thomas P. Brogan, Harrisburg, PA, for Plaintiff/Debtor.

Robert F. O'Brien, Cherry Hill, NJ, for Defendant, Barry Persofsky.

OPINION1

JOHN J. THOMAS, Chief Judge.

Defendant, Barry Persofsky, filed a motion to lift the automatic stay in the above referenced adversary proceeding. For the reasons stated below, Persofsky's request to lift the automatic stay is granted.

BACKGROUND

Prior to Debtor's bankruptcy, Persofsky filed a cause of action in state court against Debtor and certain officers and directors based on an alleged...

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