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IN RE LANDAU BOAT CO.

Bankruptcy No. 80-00716-S-11.

13 B.R. 788 (1981)

In re LANDAU BOAT COMPANY, Debtor.

United States Bankruptcy Court, W.D. Missouri, S.D.

August 28, 1981.

Attorney(s) appearing for the Case

Gary A. Love, Springfield, Mo., for debtor.

Gary Nelms, Springfield, Mo., for Reynolds Metals.

James Bowles, Springfield, Mo., for Empire Bank.

Randall Sutter, Lebanon, Mo., for Roy Knight, Williams-Keepers D.H. Smith Co. and Lawton-Byrne-Bruner.

Blythe Crist-Brown, Springfield, Mo., for Central Bank of Lebanon.

Joe C. Greene, Springfield, Mo., for Bass Pro Shops.

James McLeod, Springfield, Mo., member creditors committee.

MEMORANDUM OPINION AND ORDER

JOEL PELOFSKY, Bankruptcy Judge.

In this Chapter 11 proceeding, debtor's original plan was rejected by the impaired class of unsecured creditors. Debtor's request that the plan be "crammed down" under Section 1129(b) was denied by the Court, holding that the plan did not meet the "fair and equitable" test where unsecured creditors were not paid in full and shareholders retained their interest in the debtor, the corporation having...

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