Hanes v. Vital Products Co. (In Re Vital Products Co.)

MEMORANDUM OF OPINION AND ORDER

RANDOLPH BAXTER, Bankruptcy Judge.

Andrew Hanes (Plaintiff), a general unsecured creditor, filed his Complaint to recover property from the bankruptcy estate of Vital Products Company (the Debtor). Following a trial on the matter, the Court’s findings of fact and conclusions of law are set forth below.

I

Plaintiff Hanes is the owner of H & B Leasing Company (H & B). On or about October 1, 1992, the Debtor entered into a purported lease agreement (the Lease) with H & B for the lease of a 110 Ton Bliss Punch Press and related accessories (the Press). Pursuant to the…