United States Elevator Corp. v. 1616 Reminc Ltd. Partnership (In Re 1616 Reminc Ltd. Partnership)

MEMORANDUM OPINION

MARTIN V. B. BOSTETTER, Jr., Bankruptcy Judge.

The defendant, 1616 Reminc Limited Partnership (“Reminc”) is a debtor-in-possession in a Chapter XII proceeding under the Bankruptcy Act presently before this Court. The plaintiff, United States Elevator Corporation (“USE”), initiated an action against Reminc by way of an Amended Complaint filed on July 9, 1976, seeking a recovery in the amount of $177,885.00. 1 Reminc filed a counterclaim in the amount of $1,500,000.00 and also served The American Insurance Company [Fireman’s Fund] (“American”) in a suit on a performance and…