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IN RE IMAGE INNOVATIONS HOLDINGS, INC.

No. 06-11540 (ALG).

391 B.R. 255 (2008)

In re IMAGE INNOVATIONS HOLDINGS, INC., et al., Reorganized Debtors.

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

July 23, 2008.

Attorney(s) appearing for the Case

Platzer, Swergold, Karlin, Levine, Goldberg & Jaslow, LLP by Sherri D. Lydell, New York, NY, for Debtors.

Cohen, Tauber, Spievack & Wagner, LLP, by Leo L. Esses, New York, NY, for Pride Capital Group.

Blank Rome, LLP by Edward J. Lobello, New York, NY, for H.E. Capital, S.A.

Genovese, Joblove & Battista, P.A., by Robert F. Elgidely, Miami, FL, for H.E. Capital, S.A.

Dreier, LLP, by Joshua H. Epstein, Timothy A. Solomon, New York, NY, for Coach Capital LLC.

MEMORANDUM OF OPINION

ALLAN L. GROPPER, Bankruptcy Judge.

Before the Court is the motion of creditors, H.E. Capital, S.A. ("H.E.") and Coach Capital LLC ("Coach") (collectively, the "Creditors"), seeking leave to bring an adversary proceeding on behalf of the bankruptcy estate of Image Innovations Holdings, Inc., et al. (the "Debtors"). The Creditors seek derivative standing to bring a suit against Pride Capital Group, LLC, d/b/a Great American Group...

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