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IN RE TROLL COMMUNICATIONS, LLC

Bankruptcy No. 03-11508 (KJC). Adversary No. 05-51605 (KJC).

385 B.R. 110 (2008)

In re TROLL COMMUNICATIONS, LLC, et al., Debtors. Michael B. Joseph, as Chapter 7 Trustee for Troll Communications, LLC, et al., Plaintiff v. Lincoln E. Frank, Andrew E. Kaplan, Peter E. Bergen, Daniel Neuwirth, Curtis Thompson, Jeffrey Lucking, Terry Tuttle, Seth J. Lehr, Scott Perricelli, Quad Venture Partners SBIC, LP, Quad Venture Partners, LP, Quad Ventures, LLC, Defendants.

United States Bankruptcy Court, D. Delaware.

April 2, 2008.

Attorney(s) appearing for the Case

Jason Custer Powell, Rick S. Miller, Ferry, Joseph & Pearce, P.A., Wilmington, DE, for Plaintiff.

Christopher Martin Winter, Michael R. Lastowski, Richard W. Riley, Duane Morris LLP, William H. Schorling, Buchanan Ingersoll & Rooney PC, James E. O'Neill, Pachulski Stang Ziehl & Jones LLP, Wilmington, DE, Blake T. Hannafan, Michael T. Hannafan, Hannafan & Hannafan, Ltd., Nicholas A. Pavich, Michael T Hannafan & Associates, Ltd., Chicago, IL, for Defendants.

MEMORANDUM1

KEVIN J. CAREY, Bankruptcy Judge.

BACKGROUND

On May 16, 2003, Troll Communications, LLC and its affiliates filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code.2 The Debtors' cases were converted to cases under chapter 7 of the United States Bankruptcy Code on July 23, 2003 (main case docket no. 207). On July 27, 2003, Michael...

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