United States Bankruptcy Court, D. New Jersey.https://leagle.com/images/logo.png
December 3, 2009.
December 3, 2009.
Attorney(s) appearing for the Case
Joseph H. Lemkin, Esq., Walter J. Greenhalgh, Esq., Duane Morris, Newark, NJ, for Triangle SC, LLC.
Louis A. Modugno, Esq., Eric Perkins, Esq., Jeffrey Bernstein, Esq., McElroy, Deutsch, Mulvaney & Carpenter, LLP, Newark, NJ, for Trustee, Eric R. Perkins.
James A. Scarpone, Esq., Scarpone & Vargo, LLC, Newark, NJ, for Official Committee of Unsecured Creditors.
Gary Ettelman, Esq., Ettelman & Hochheiser, PC, Garden City, NY, for Wallach Family.
Frank J. Vecchione, Esq., Gibbons PC, Newark, NJ, for Star Distribution, Inc., d/b/a New Deal Logistics.
Mitchell B. Hausman, Esq., United States Department of Justice, Newark, NJ, United States Trustee.
United States Bankruptcy Court, D. New Jersey.
OPINION
MORRIS STERN, Bankruptcy Judge.
This matter1 tests the applicability and application of the concept of "good faith purchase" in a Chapter 7 sale of assets. It reflects the efforts of the appointed trustee to perform his duties to monetize assets of a business which has been severely handicapped by internal warfare among shareholders, and with a co-venturer. Ultimately...
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