Summary of 4/30 and 5/7 Omnibus Hearings
April 30, 2007
The Court adjourned all hearings scheduled for April 30, 2007 until either May 7, 2007 or May 14, 2007.
May 7, 2007
On May 7, 2007, the Court held an omnibus hearing addressing the following items:
1. Bond Safeguard Insurance Co. and Lexon Insurance Co.’s Motion to Compel Debtor to Assume or Reject Executory Contracts and for Injunctive Relief: This motion was adjourned until July 9, 2007.
2. Motion to Reject Executory Contract on behalf of Angelo Pantazes: This motion was adjourned until May 21, 2007.
3. Motion for Order Terminating Contract and Providing a Lien on behalf of Constance Mueller: This motion was withdrawn.
4. Motion to Compel Assumption/Rejection and to Retrieve Personal Property on behalf of Contain It, LLC: This motion was Granted with a provision providing that Contain It, LLC is entitled to file a damage claim within 30 days of the hearing date.
5. Motion to Reject Executory Contract for Sale of Real Estate on behalf of Floyd Cummins: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
6. Motion to Compel Rejection of Executory Contract on behalf of Frank DiGirolamo: This motion was adjourned until May 21, 2007.
7. Motion to Terminate Contract for Sale of Real Estate on behalf of Lojewski: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
8. Motion to Reject Executory Contract on behalf of Arvind and Sarita Grover: This motion was adjourned until May 21, 2007.
9. Motion Compelling Debtor to Assume or Reject Executory Agreement known as “Agreement for Joint Venture (Old Bridge Township Middlesex County)” dated December 2, 2004 on behalf of Michael and Georgette Hegarty and Toby Gardens, LLC: The Court ordered that the Debtor must move to assume or reject the Joint Venture within 45 days of the date of the hearing.
10. Motion to Compel Rejection of Executory Contract on behalf of Gregg and Meredith Lamb: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
11. Motion to Compel Rejection of Executory Contract on behalf of Phil Dounelis: This motion was adjourned until May 21, 2007.
12. Motion to Compel Rejection of Executory Contract on behalf of John and Virginia Heldon: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
13. Motion to Compel Rejection of Executory Contract on behalf of Mark and Deborah File: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
14. Motion to Compel Rejection of Executory Contract on behalf of Bruce and Karen Simon: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
15. Motion to Compel Rejection of Executory Contract on behalf of Janet Benz: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
16. Motion for Relief from Stay re: Escrowed Proceeds from the Sale of Four Homes on behalf of Amboy National Bank: The Debtors consented to this Motion and a consent order will be entered.
17. Motion for Authority to Obtain Credit Under Section 364(b) on behalf of Kara Homes for Final Order Authorizing Woods Landing to Incur Post-Petition Secured Indebtedness to ING Direct: The Court granted this motion authorizing the Debtors to incur up to $1,947,790 for construction financing for the property owned by Horizons at Woods Landing. As security for the contruction financing, ING Direct has been granted an additional first priority lien and security interests on the Horizons at Woods Landing property as well as a superpriority administrative claim.
The next hearing date is scheduled for Monday, May 14, 2007 at 1:00 pm in Trenton, New Jersey.
The Court adjourned all hearings scheduled for April 30, 2007 until either May 7, 2007 or May 14, 2007.
May 7, 2007
On May 7, 2007, the Court held an omnibus hearing addressing the following items:
1. Bond Safeguard Insurance Co. and Lexon Insurance Co.’s Motion to Compel Debtor to Assume or Reject Executory Contracts and for Injunctive Relief: This motion was adjourned until July 9, 2007.
2. Motion to Reject Executory Contract on behalf of Angelo Pantazes: This motion was adjourned until May 21, 2007.
3. Motion for Order Terminating Contract and Providing a Lien on behalf of Constance Mueller: This motion was withdrawn.
4. Motion to Compel Assumption/Rejection and to Retrieve Personal Property on behalf of Contain It, LLC: This motion was Granted with a provision providing that Contain It, LLC is entitled to file a damage claim within 30 days of the hearing date.
5. Motion to Reject Executory Contract for Sale of Real Estate on behalf of Floyd Cummins: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
6. Motion to Compel Rejection of Executory Contract on behalf of Frank DiGirolamo: This motion was adjourned until May 21, 2007.
7. Motion to Terminate Contract for Sale of Real Estate on behalf of Lojewski: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
8. Motion to Reject Executory Contract on behalf of Arvind and Sarita Grover: This motion was adjourned until May 21, 2007.
9. Motion Compelling Debtor to Assume or Reject Executory Agreement known as “Agreement for Joint Venture (Old Bridge Township Middlesex County)” dated December 2, 2004 on behalf of Michael and Georgette Hegarty and Toby Gardens, LLC: The Court ordered that the Debtor must move to assume or reject the Joint Venture within 45 days of the date of the hearing.
10. Motion to Compel Rejection of Executory Contract on behalf of Gregg and Meredith Lamb: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
11. Motion to Compel Rejection of Executory Contract on behalf of Phil Dounelis: This motion was adjourned until May 21, 2007.
12. Motion to Compel Rejection of Executory Contract on behalf of John and Virginia Heldon: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
13. Motion to Compel Rejection of Executory Contract on behalf of Mark and Deborah File: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
14. Motion to Compel Rejection of Executory Contract on behalf of Bruce and Karen Simon: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
15. Motion to Compel Rejection of Executory Contract on behalf of Janet Benz: The Court permitted termination of the contract and granted relief from the automatic stay for the contract purchaser to pursue any claims against the bonding company.
16. Motion for Relief from Stay re: Escrowed Proceeds from the Sale of Four Homes on behalf of Amboy National Bank: The Debtors consented to this Motion and a consent order will be entered.
17. Motion for Authority to Obtain Credit Under Section 364(b) on behalf of Kara Homes for Final Order Authorizing Woods Landing to Incur Post-Petition Secured Indebtedness to ING Direct: The Court granted this motion authorizing the Debtors to incur up to $1,947,790 for construction financing for the property owned by Horizons at Woods Landing. As security for the contruction financing, ING Direct has been granted an additional first priority lien and security interests on the Horizons at Woods Landing property as well as a superpriority administrative claim.
The next hearing date is scheduled for Monday, May 14, 2007 at 1:00 pm in Trenton, New Jersey.
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