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MATTER OF MANDALAY SHORES CO-OP. HOUSING ASS'N

Bankruptcy No. 81-547.

22 B.R. 202 (1982)

In the Matter of MANDALAY SHORES COOPERATIVE HOUSING ASSOCIATION, Debtor.

United States Bankruptcy Court, M.D. Florida, Tampa Division.

July 13, 1982.

Attorney(s) appearing for the Case

Jawdett Rubaii, Clearwater, Fla., for debtor.

William Borja, Clearwater, Fla., for Smith, et al.

Mary Lou Wagstaff, Largo, Fla., for Fultons, et al.

Helen Ellis, Tallahassee, Fla., for Dept. of Business Regulation.

ORDER ON MOTION TO DISMISS OR CONVERT

ALEXANDER L. PASKAY, Chief Judge.

THIS IS a Chapter 11 proceeding and the matter under consideration is a Motion to Dismiss the case or, in the alternative, to convert it to a Chapter 7 proceeding. The Motion was filed by Walter N. Smith and various other individuals who refer to themselves as equity security holders. The movants contend that the absence of a reasonable likelihood of rehabilitation of the Debtor coupled...

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