Thursday, April 26, 2007

Summary of 4/16 Hearings

On April 16, 2007, the Court held an omnibus hearing addressing the following motions/applications:

1. Motion Setting a Date by Which Debtor Must Assume or Reject Off-Site Improvement Contract and Other Relief on behalf of K. Hovnanian Old Bridge, LLC: Withdrawn by K. Hovnanian Old Bridge, LLC.

2. Motion for Relief from Stay to Set-Off Retainer Account filed by Flaster/Greenberg, PC: Consent Order to be Submitted.

3. Motion for Relief from Stay with respect to Bond #501156 filed by John Smallwood, Sr.: Adjourned until April 18, 2007 and was subsequently Granted.

4. Motion for Relief from Stay re: Block 4, Lots 7.06; 7.09 and 7.10 Sea Bright, NJ filed by Amboy Bank: Adjourned until April 18, 2007 and was subsequently scheduled for plenary hearing to be heard on May 17, 2007 at 10:00 am.

5. Motion for Relief from Stay re: 14 Forest Edge Court, Stafford, NJ on behalf of Sun National Bank: Adjourned until April 23, 2007.

6. Motion for Relief from Stay re: Crine West Estates, Lot 10, Block 180.01 on behalf of Xue Yun Chen and Anthony O’Reilly: Consent Order Submitted.

7. Motion for Relief from Stay re: Block 729, Lot 7.02; 7.34; 7.39; 7.40 Block 746 Lot 29.44; Middletown, NJ filed by Amboy Bank: Adjourned until April 18, 2007 and was subsequently scheduled for plenary hearing to be heard on May 17, 2007 at 10:00 am.

8. Motion for Relief from Stay re: Various Parcels of Crine West in Marlboro, NJ filed by Amboy Bank: Adjourned until April 18, 2007 and was subsequently scheduled for plenary hearing to be heard on May 17, 2007 at 10:00 am.

9. Motion to Approve Settlement between Kara Homes, Kara at Enclave II and United Water Toms River: Adjourned until April 18, 2007 and was subsequently Granted with an Order to be Submitted.

The next hearing date is scheduled for Monday, April 23, 2007 at 1:00 pm in Trenton, New Jersey.