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IN RE F.A. POTTS AND CO., INC.

Bankruptcy No. 81-03639 T.

23 B.R. 575 (1982)

In re F.A. POTTS AND CO., INC., and G.M.P. Land Company, Inc., Consolidated Debtors.

United States Bankruptcy Court, E.D. Pennsylvania.

September 30, 1982.

Attorney(s) appearing for the Case

Leon S. Forman, Earl T. Stamm, Horace A. Stern, Philadelphia, Pa., Abe H. Frumkin, Pottsville, Pa., for debtors.

Gary Schildorn, Philadelphia, Pa., for Creditors Committee.

Michael H. Reed, Anthony Vale, Philadelphia, Pa., for Ransomes & Rapier, P.L.C.

Richard L. Berkman, Philadelphia, Pa., for Getty Refining and Marketing Co.

Robert H. Kauffman, Reading, Pa., for Nordic Bank.

OPINION

THOMAS M. TWARDOWSKI, Bankruptcy Judge.

The issue before the Court involves the proper allocation of the sale proceeds pursuant to a sale to Anthracorp, Inc., (hereinafter "Anthracorp") of certain interests by F.A. Potts and Company, Inc., (hereinafter "Potts") and by G.M.P. Land Company, Inc. (hereinafter "GMP"). Potts and GMP are the debtors in this recently substantively consolidated Chapter 11 bankruptcy reorganization case. For the reasons hereinafter...

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