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MATTER OF WM. GLUCKIN CO. LTD.

No. 73 B 194 (CES).

457 F.Supp. 379 (1978)

In the Matter of WM. GLUCKIN COMPANY LIMITED, Debtor. In the Matter of WM. GLUCKIN & CO., INC., Debtor. In the Matter of PITTSTON APPAREL COMPANY, Debtor.

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

September 27, 1978.

Attorney(s) appearing for the Case

Milbank, Tweed, Hadley & McCloy, New York City, for Lenders by John J. Jerome, David C. L. Frauman, Alan W. Kornberg, New York City, of counsel.

Kaye, Scholer, Fierman, Hays & Handler, New York City, for Trustee Philip Mandel by Joel B. Zweibel, David C. Unger, New York City, of counsel.

MEMORANDUM DECISION

STEWART, District Judge:

The First National Bank of Boston and the John Hancock Mutual Life Insurance Company (the "Lenders") have applied to this Court for an order directing the Trustee of the estates of Wm. Gluckin Co. Ltd., Wm. Gluckin & Co., Inc. and Pittston Apparel Co. (the "Debtors") to pay over to the Lenders in the form of an interim distribution at least 90% of the total sum...

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