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IN MATTER OF ALDERSGATE FOUNDATION, INC.

No. 78-2878 Summary Calendar.

588 F.2d 188 (1979)

In the MATTER of ALDERSGATE FOUNDATION, INC., Bankrupt. MARK CONSTRUCTION COMPANY, Appellant, v. Frank W. REED, Trustee, Appellee.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied February 20, 1979.

Attorney(s) appearing for the Case

Jules S. Cohen, Orlando, Fla., for appellant.

Lee J. Colling, Charles R. George, III, Orlando, Fla., for appellee.

Before CLARK, RONEY and GEE, Circuit Judges:

PER CURIAM:

The Aldersgate Foundation is a non-profit corporation founded to provide housing and other services for the elderly. On March 22, 1972, Aldersgate signed a contract with the Mark Construction Co. for the construction of a retirement center, including a church, a commissary, laundries, and apartment units. The total contract price was $1,830,063.70.

On June 30, 1974, Aldersgate was forced into an equity receivership and, on September 12, 1974, Aldersgate...

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