New Commonwealth Publishing Co. v. Baybank Middlesex (In Re New Commonwealth Publishing Co.)

MEMORANDUM

JAMES N. GABRIEL, Chief Judge.

I. INTRODUCTION

New Commonwealth Publishing Company, Inc. (“New Commonwealth” or the “Debtor”) commenced the above-captioned adversary proceeding against BayBank Middlesex (“BayBank” or the “Bank”) on November 3, 1989. The Debtor filed an amended complaint on February 28, 1990. That complaint is presently the subject of cross-motions for summary judgment.

II. FACTS

The Debtor filed a voluntary petition under Chapter 11 of the Bankruptcy Code on October 19, 1989. The filing took place approximately six months after New Commonwealth acquired the assets and…