Matter of Baldwin-United Corp.
United States Bankruptcy Court, S.D. Ohio
1Opinion of the Court
RANDALL J. NEWSOME, Bankruptcy Judge.
On September 26,1983 a company whose president was determined to make it the largest financial services firm in the world came crashing into this bankruptcy court with assets charitably valued at approximately $9 billion and debts estimated variously at $9 billion or multiples thereof. At 10:05 a.m. on that date involuntary Chapter 11 petitions were filed against Baldwin-United Corporation (“BU”) and D.H. Baldwin Company, (“DHB”) a holding company held by BU. Three minutes later, voluntary Chapter 11 cases were filed on behalf of the same companies in New…
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