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IN RE PARIS INDUSTRIES CORP.

Bankruptcy Nos. 87-20111 to 87-20115.

80 B.R. 2 (1987)

In re PARIS INDUSTRIES CORPORATION, Vitro Agate Corporation, Otselic Enterprises, Inc., Stylecrafters Corporation, Gladding Cordage Corporation, Debtors.

United States Bankruptcy Court, D. Maine.

December 7, 1987.

Attorney(s) appearing for the Case

Charles Glerum, Peter Fine, Choate, Hall & Stewart, Boston, Mass., for State Street Bank.

David A. Munro, Ann Goldweber, Asst. Attys. Gen., Albany, N.Y., for movant.

MEMORANDUM OF DECISION

FREDERICK A. JOHNSON, Chief Judge.

On August 4, 1987, the Chapter 11 Trustee of Gladding Cordage Corporation, an affiliate of Paris Industries Corporation, filed a notice of intended sale of Gladding's real and personal property, situated at South Otselic, New York.1 The proposed sale resulted from a written offer, dated June 26, 1987, received from Continental Cordage Corporation of Cazenovia, New York...

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