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IN RE ACTRADE FINANCIAL TECHNOLOGIES LTD.

Bankruptcy Nos. 02-16212(ALG), 02-16213(ALG). Adversary No. 04-03601(ALG).

337 B.R. 791 (2005)

In re ACTRADE FINANCIAL TECHNOLOGIES LTD., et al. Debtor. Kenneth P. Silverman as Chapter 7 Trustee of Allou Distributors, Inc., et al. Plaintiff, v. Actrade Capital, Inc. and the Actrade Liquidation Trust Defendants.

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

June 23, 2005.

Attorney(s) appearing for the Case

Silverman Perlstein & Acampora LLP, By Edward M. Flint, Esq., Ronald J. Friedman, Esq., Jericho, NY, for Kenneth P. Silverman, Esq., Chapter 7 Trustee of Creditor Allou Distributors, Inc.

Bronstein, Gewirtz & Grossman, LLC, By Neil D. Grossman, Esq., Edward N. Gewirtz, Esq., Peretz Bronstein, Esq., Noson A. Kopel, Esq., Laura S. Mello, Esq., Schlam Stone & Dolan, LLP, By Bennette D. Kramer, Esq., Jeffrey M. Eilander, Esq., New York City, for Actrade Capital, Inc., and The Actrade Liquidation Trust.

MEMORANDUM OF OPINION

ALLAN L. GROPPER, Bankruptcy Judge.

INTRODUCTION

Actrade Financial Technologies Ltd. and Actrade Capital, Inc., (together, "Actrade" or the "Debtor") filed for relief under Chapter 11 of the Bankruptcy Code on December 12, 2002 and confirmed a Joint Plan of Liquidation (the "Plan") on January 7, 2004. Under the Plan, they propose to pay all creditors in full and to make a substantial distribution to equity holders...

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