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IN RE JESUP & LAMONT, INC.

Case No. 10-14133 (ALG) (Jointly Administered) Adv. Pro. No. 12-1168.

507 B.R. 452 (2014)

IN RE JESUP & LAMONT, INC. and Jesup & Lamont Securities Corportion, Debtors. Matthew C. Harrison, Jr., Confirmation Trustee of the Jesup Liquidating Trust, Plaintiffs, v. New Jersey Community Bank, Robert O'Donnell, and Stephen Rabinovici, Defendants.

United States Bankruptcy Court, S.D. New York.

Signed March 26, 2014.

Attorney(s) appearing for the Case

Wilk Auslander LLP, Counsel to Post-Confirmation Trustee, 1515 Broadway, 43rd Floor, New York, New York 10036, By: Stuart M. Riback, Esq. , Eric J. Snyder, Esq. , Jessica Taran, Esq.

Klestadt & Winters LLP, Counsel to New Jersey Community Bank, and Robert O'Donnell , 570 Seventh Avenue, 17th Floor, New York, New York 10018, By: Tracy L. Klestadt, Esq. , Brendan M. Scott, Esq. ,

Lowenstein Sandler LLP, Counsel to Steven Rabinovici , 1251 Avenue of the Americas, New York, New York 10020, By: Robert C. Bonebert, Esq. , David M. Banker, Esq. , Richard C. Wolter, Esq.

Chapter 11

MEMORANDUM DECISION

ALLAN L. GROPPER, UNITED STATES BANKRUPTCY JUDGE

Introduction

Debtor Jesup & Lamont, Inc. ("JLI") filed a voluntary chapter 11 bankruptcy petition on July 30, 2010. About seven weeks later, on September 24, 2010, its wholly owned broker-dealer subsidiary, Jesup & Lamont Securities Corp. ("JLSC"), also filed under chapter 11. The two cases were jointly administered and the Court approved a...

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