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IN RE SAPOLIN PAINTS, INC.

Bankruptcy Nos. 180-01691-21, 180-01807-21, Adv. No. 180-0682-21.

11 B.R. 930 (1981)

In re SAPOLIN PAINTS, INC., Debtor. In re WOOLSEY MARINE INDUSTRIES, INC., Debtor. UNITED CAPITAL CORP. and Metropolitan Greetings, Inc., Plaintiffs, v. SAPOLIN PAINTS, INC. and Woolsey Marine Industries, Inc., Defendants.

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

June 19, 1981.

Attorney(s) appearing for the Case

Ballon, Stoll & Itzler, New York City, for plaintiffs.

Stroock & Stroock & Lavan, New York City, for defendants.

Kaye, Scholer, Fierman, Hays & Handler, New York City, for intervenor Chemical Bank, N.A.

Davis, Polk & Wardwell, New York City, for Woolsey Creditors Committee.

OPINION

CECELIA H. GOETZ, Bankruptcy Judge:

In this adversary proceeding brought by United Capital Corporation ("United") and Metropolitan Greetings, Inc. ("Metropolitan"), Chemical Bank, N.A. ("Chemical"), an intervenor herein, has moved for summary judgment dismissing the complaint. The complaint pleads breach of contract and seeks either specific performance or damages. The theory of the complaint is that the defendants are under a contractual obligation...

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