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IN RE WICACO MACH. CO., INC.

Bankruptcy No. 82-04534, Adv. No. 83-0580G.

55 B.R. 588 (1985)

In re The WICACO MACHINE CO., INC., Debtor. Jonathan H. GANZ, Trustee of Wicaco Machine Corporation and the Creditors Committee of Wicaco Machine Corporation, Plaintiffs, v. KOVATCH CORPORATION and John J. Kovatch, Jr. and Joseph J. Kovatch, Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

December 5, 1985.

Attorney(s) appearing for the Case

Jonathan H. Ganz, Pincus, Verlin, Hahn, Reich & Goldstein, Philadelphia, Pa., for plaintiff/trustee of Wicaco Machine Corp.

Joseph A. Dworetzky, James S. Gkonos, Drinker, Biddle & Reath, Philadelphia, Pa., for Creditors' Committee.

Robert T. Yurchak, Nesquehoning, Pa., and Bruce J. Wisotsky, Philadelphia, Pa., for defendants, Kovatch Corp., John J. Kovatch, Jr. and Joseph J. Kovatch.

OPINION

EMIL F. GOLDHABER, Chief Judge:

The primary issue at the heart of this controversy is whether a prepetition sale of a part of the debtor's assets constitutes a bulk transfer, thus enabling the trustee to demand the return of the property or its value even though the purchaser paid fair consideration. For the reasons expressed herein, we conclude that this sale qualifies as a bulk transfer and therefore the fair consideration paid by the purchaser...

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