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IN RE CALLAHAN MOTORS, INC.

No. B 233-73.

396 F.Supp. 785 (1975)

In the Matter of CALLAHAN MOTORS, INC., a corporation of the State of New Jersey, Debtor.

United States District Court, D. New Jersey. Bankruptcy Division.

June 18, 1975.

Attorney(s) appearing for the Case

Markowitz & Zindler, Trenton, N. J., for debtor.

Joel H. Sterns, Sterns & Greenberg, Trenton, N. J., receiver in bankruptcy.

Kleinberg, Moroney, Masterson & Schachter by Robert Molnar, Newark, N. J., for Receiver.

Smith, Stratton, Wise & Heher by Garrett M. Heher, Princeton, N. J., for Princeton Bank and Trust Co. Frank Petrino on the brief.

OPINION

CLARKSON S. FISHER, District Judge.

This is a petition for review by the Princeton Bank and Trust Company (hereinafter Bank) of a bankruptcy proceeding in which its application to reclaim automobiles and sale proceeds from the bankrupt debtor was denied.

On February 23, 1973, the debtor in this action, Callahan Motors, Inc., (hereinafter Callahan), filed a Chapter XI Petition in bankruptcy. An Order was entered appointing Joel H. Sterns...

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