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IN RE PARR MEADOWS RACING ASS'N, INC.

Nos. 79 C 689, 77 B 2647.

471 F.Supp. 893 (1979)

In re PARR MEADOWS RACING ASSOCIATION, INC., Debtor. FLUSHING SAVINGS BANK, Movant-Appellant, v. PARR MEADOWS RACING ASSOCIATION, INC., Respondent-Appellee.

United States District Court, E. D. New York.

May 14, 1979.

Attorney(s) appearing for the Case

Weil, Gotshal & Manges by Michael L. Cook and Stephen Karotkin, New York City, for Flushing Savings Bank.

Jules V. Speciner, Great Neck, N. Y., for Parr Meadows Racing Association, Inc.

MEMORANDUM OF DECISION AND ORDER

COSTANTINO, District Judge.

Appellant-creditor Flushing Savings Bank ("Flushing") appeals from an order of Bankruptcy Judge Robert J. Hall which denied Flushing's motion for an order directing appellee-debtor Parr Meadows Racing Association, Inc. ("Parr") to post indemnity pursuant to Bankruptcy Rule 11-20(d) and Local Rule XI-4 in the amount of $1,000,000.

Parr's sole business is owning and operating a racetrack...

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