Raytech Corp. v. Stefanutti (In Re Raytech Corp.)

ORDER ON DEFENDANTS’ MOTION FOR DISMISSAL, OR IN THE ALTERNATIVE, ABSTENTION

ALAN H. W. SHIFF, Chief Judge.

BACKGROUND

The parties have submitted a joint stipulation which in relevant part provides the factual predicate for this order. The full text of the stipulation is attached as an Appendix.

A December 8, 1995 order of this court authorized Raytech Composites (“Composites”), a, non-debtor Raytech subsidiary, to acquire Advanced Friction Materials Company (“AFM”). Pursuant to that order, on January 16, 1996, Composites agreed to purchase 47% of the outstanding shares of AFM from Oscar…