New Jersey Steel Corp. v. Huffman (In re Valley Steel Corp.)

DECISION AND ORDER

ROSS W. KRUMM, Chief Judge.

The court has before it a motion by New Jersey Steel Corporation (herein New Jersey Steel) which seeks determination of the following issues:

1. The date upon which the statute of limitations under which the trustee could have pursued claims against directors of Valley Steel Corporation (herein Valley Steel) on behalf of the estate expired.

2. A determination of the appropriate standard of care imposed on the trustee in carrying out the trustee’s duties under 11 U.S.C. § 704.

The parties have submitted extensive memoranda with respect to the two…