In Re the Gibbons-Grable Co.

MEMORANDUM OF DECISION

JAMES H. WILLIAMS, Chief Judge.

Several general unsecured creditors (Creditors) of The Gibbons-Grable Company (Debtor) bring for the court’s consideration a Motion to Abandon Certain Preference Claims (Motion). The Motion requests the court to require abandonment by Lee J. DiCola (Trustee), Trustee for The Gibbons-Grable Assets Disposition Trust (Trust), an entity created pursuant to Debtor’s confirmed reorganization plan. Oral argument and testimony was heard November 21,1991. Pursuant to the court’s direction, the parties then submitted briefs in support of their…