UNITED STATES BANKRUPTCY COURT

District of Maine

In the matter of:

CATHERINE DUFFY PETIT Chapter 7

Case No. 93-20821

Pursuant to a general notice of intention to abandon property given to all creditors and interested parties, you are hereby notified that the trustee has determined that the following property is not necessary to the successful performance of the debtor's plan and should be abandoned to the secured creditors who claim an interest therein. Unless an interested party files a written objection to this abandonment with the Clerk, United States Bankruptcy Court, 537 Congress Street, Portland, Maine 04101, with a copy to the undersigned trustee and the debtor's attorney whose name and address appear below by 5:00 p.m. on November 20, 1995, the trustee shall abandon the following property of the estate for the reasons set forth:

Description

1. All claims by debtor and

debtor's corporations against

Key Bank, et al, under York

County Superior Court Docket

No.86-608.

II. Possible attorney "malpractice claims" against Richard Poulos, Poulos & Campbell, Poulos, Cambell & Zenzian, Richard Grahn, William Looney, Looney & Grossman, Paul Redman, Ronald Caron, and Caron & Sullivan, plus any or all of the debtor's other attorneys connected with her claims against Key Bank of Maine.

Listed on debtor's schedules "in excess of $25 million."

Listed on the debtor's schedules as "unknown." The trustee believes that the debtor would assert that the value of these claims is coextensive with the value of her claims against Key Bank of Maine to the extent that those claims have been impaired by the malpractice of any or all of her attorneys.

None

None

Reason for Abandonment:

I. The dismissal of Counts I through V was affirmed by the Maine Supreme Judicial Court; summary judgment was granted against the debtor on the remaining Count VI. An appeal is pending before the Maine Supreme Judicial Court on that count. On information and belief based on the trustee's anaiysis of the status of the appeal and the underlying claims, the debtor will be unsuccessful. The Key Bank claims are of no value whatsoever to the estate. As a second ground for abandonment, the trustee says that the estate has no funds to prosecute the claim against Key Bank even if the appeal is successful. On information and belief based on estimates from debtor's counsel, the cost of prosecuting the lawsuit will range between $150,000 and $1,000,000. The estate has no resources to carry that burden.

II. The estate is without funds to prosecute these claims. The trustee believes that these claims are worthless. Irrespective of any issues of liability (which are highly problematic), the estate would be required to try a "case within a case" in order to establish damages which are themselves suspect,. The cost of prosecuting these malpractice claims is estimated in excess of $500,000. The statute of limitations on some or all of these claims may expire on December 10 or December 16 or December 27. There is no value in these claims for the benefit of the unsecured creditors.

CERTIFICATE OF SERVICE

The undersigned hereby certifies under the pains and penalties of perjury that the following parties were served with a true photocopy of the foregoing notice by first class mail, postage prepaid at Brunswick, Maine, addressed according to the attached service list.