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IN RE SEYCHELLES

Bankruptcy No. 382-01580-F, Adv. No. 382-01433.

30 B.R. 75 (1983)

In re SEYCHELLES, A Partnership, Debtor. Philip I. PALMER, Jr., Interim Trustee, Plaintiff, v. William M. TODD, Trustee, et al., Defendants.

United States Bankruptcy Court, N.D. Texas, Dallas Division.

February 22, 1983.

Attorney(s) appearing for the Case

D.M. Lynn, Moore & Peterson, Dallas, Tex., for petitioning creditors, Robert L. Wheelock, III and Banyan Corp., two gen. partners of Seychelles.

Philip I. Palmer, Jr., Dallas, Tex., trustee.

Armoqida & Coats, P.C., and Robert C. Maley, Jr., Mark E. Browning, Sheinfeld, Maley & Kay, Houston, Tex., for Genius Corp.

MEMORANDUM OPINION

JOHN C. FORD, Bankruptcy Judge.

On December 21, 1982, the duly appointed interim trustee Philip I. Palmer, Jr., filed an Application to sell, free and clear of liens, 130.352 acres of undeveloped land in Tarrant County, hereinafter the 130 acres, representing substantially all of the debtor's assets. The debtor, Seychelles Partnership, was formed in the Summer of 1979 to acquire, own, hold, and develop the 130 acre tract of land located...

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