Tuesday, May 22, 2007

Summary of 5/14 hearings

On May 14, 2007, the Court held an omnibus hearing addressing the following items:

1. Motion for Relief from the Automatic Stay regarding Modular Units on behalf of GE Capital Modular Space: This motion was adjourned until June 5, 2007.

2. Motion for Adequate Protection or Relief from the Automatic Stay on behalf of Wells Fargo Financial Leasing, Inc.: This motion was adjourned until May 21, 2007.

3. Motion for Relief from the Automatic Stay regarding 82 Bryce Lane, Manahawkin, NJ on behalf of Vicki Forcier: 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.

4. Motion for Relief from the Automatic Stay regarding 72 Bryce Lane, Manahawkin, NJ on behalf of Irene and Kenneth Sikorski: 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.

5. Motion to Compel Rejection of Executory Contract and Motion for Relief from the Automatic Stay regarding 57 Bryce Lane, Manahawkin, NJ on behalf of John and Kenneth Sikorski: 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 and Motion for Relief from the Automatic Stay regarding 80 Bryce Lane, Manahawkin, NJ on behalf of Christopher and Donna Escher: 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.

7. Motion to Sell Kara at Navesink and Kara at Freehold: Consistent with previously entered sale orders, the Court granted the Debtors’ motion to sell the assets of Kara at Navesink and Kara at Freehold. The auction is scheduled for June 26, 2007 and the final hearing to confirm the sale is scheduled for July 9, 2007 at 1:00 pm.

The next hearing date is scheduled for Monday, May 21, 2007 at 1:00 pm in Trenton, New Jersey.