Arrow Mill Development Corp. v. ShopRite of Clinton (In Re Arrow Mill Development Corp.)

OPINION

WILLIAM H. GINDIN, Chief Judge.

PROCEDURAL BACKGROUND

This matter comes before the court as an adversary proceeding to compel defendant ShopRite of Clinton, Inc. (“ShopRite”) to turn over the proceeds of an escrow account pursuant to 11 U.S.C. § 541. At issue in the proceeding is the ownership of the escrow account which was created and funded by ShopRite. Plaintiff/debtor-in-possession Arrow Mill Development Corporation (“Arrow Mill” or “debtor”) contends that the escrow account, which is maintained by debtor’s counsel, constitutes property of the debtor’s estate. Defendant claims that…