IN RE NITE LITE INNS

Bankruptcy Nos. 79-03350-K, C80-0159-M.

13 B.R. 900 (1981)

In re NITE LITE INNS, a California corporation, Debtor. BURKE INVESTORS, a partnership, Plaintiff, v. NITE LITE INNS, a California corporation, J. Mark Grosvenor and Judson R. Grosvenor, Defendants.

United States Bankruptcy Court, S.D. California.

September 3, 1981.


Attorney(s) appearing for the Case

E. Mac Amos, Jr., Jennings, Engstrand & Henrikson, San Diego, Cal., for plaintiff.

Colin W. Wied, C. Douglas Alford, James P. Hill, Wied, Granby, Alford & Arkin, San Diego, Cal., for defendants.


MEMORANDUM OPINION AFTER TRIAL ON COMPLAINT AND COUNTERCLAIM FOR DECLARATORY RELIEF AND MONEY DAMAGES

JAMES W. MEYERS, Bankruptcy Judge.

I

In this action the Court must decide several questions emanating from an aborted real estate transaction styled as a sale-leaseback. Burke Investors, a California limited partnership ("Burke Investors"), was the "buyer-lessor" in the transaction and the debtor, Nite Lite Inns, a California corporation ("Nite Lite...

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