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IN RE TELE/RESOURCES, INC.

Bankruptcy No. 80 B 20398.

6 B.R. 628 (1980)

In re TELE/RESOURCES, INC., Debtor.

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

October 20, 1980.

Attorney(s) appearing for the Case

Berman & Zivyak, New York City, for debtor; Jeffrey Zivyak, New York City, of counsel.

Rathheim, Hoffman, Kassel & Levie, New York City, for Citibank; Joseph H. Levie, New York City, of counsel.

Sherman & Citron P.C., New York City, for Creditors' Committee; Howard Karasik, New York City, of counsel.

Coudert Brothers, New York City, for Newmarket Co. Ltd., Peter L. Edwards, New York City, of counsel.

Levin & Weintraub, New York City, for groups of investors; Marilyn Simon, New York City, of counsel.

Siegel, Sommers & Schwartz, New York City, for National Telecon; James A. Beldner, New York City, of counsel.

HOWARD SCHWARTZBERG, Bankruptcy Judge.

The debtor, Tele/Resources, Inc., a New York corporation engaged in the manufacture and distribution of telephonic communications systems, has admittedly arrived at the end of its line and is unable to obtain fresh financing or fresh equity. On September 5, 1980, it filed its voluntary petition for an arrangement under Chapter 11 of the Bankruptcy Code, 11 U.S.C. § 1101 et seq. The debtor is continuing to lose up to $15...

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