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MATTER OF INVESTORS DEV. CO.

Bankruptcy No. 80-0559.

7 B.R. 772 (1980)

In the Matter of INVESTORS DEVELOPMENT COMPANY, a Limited Partnership of the State of New Jersey, Debtor. INVESTORS DEVELOPMENT COMPANY, a Limited Partnership of the State of New Jersey, Plaintiff, v. FORUM HOMES, INC. and The Official Creditors Committee, Defendants.

United States Bankruptcy Court, D. New Jersey.

December 17, 1980.

Attorney(s) appearing for the Case

Kleinberg, Moroney, Masterson & Schachter by Sheldon Schachter, Millburn, N.J., for debtor in possession.

Teich, Groh, Robinson, Kline & Frost by Arthur Teich, Trenton, N.J., Bathgate, Wegener, Wouters & Neumann by Timothy P. Neumann, Lakewood, N.J., for Creditors Committee.

Chasan, Leyner, Holland & Tarrant by Frank W. Hogan, Jr., Jersey City, N.J., Stroock & Stroock & Lavan, New York City, by Prudence B. Abram (New York Bar) for Centex Homes of New Jersey.

Fox, Schackner, Miastrangelo & Clarken, by A. Roger Blauvelt, Newark, N.J., for U.S. Sav. Bank.

OPINION

On Motion of Investors Development Company to reject a contract as executory and counter motions of Centex Homes of New Jersey for specific performance; allowing an administrative expense claim; and granting a lien

AMEL STARK, Bankruptcy Judge.

On March 11, 1980, Investors Development Company, a partnership of the State of New Jersey ("IDC") filed a voluntary Petition for Relief under Chapter 11 of the Bankruptcy Code in order to effect an...

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