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IN RE SCHICK OIL & GAS, INC.

Bankruptcy No. 82-00247-A, Adv. No. 82-103.

35 B.R. 282 (1983)

In re SCHICK OIL & GAS, INC., Debtor. SCHICK OIL & GAS, INC., By and Through its Trustee, Gregory L. MAHAFFEY, Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for Penn Square Bank, N.A., Defendant.

United States Bankruptcy Court, W.D. Oklahoma.

December 9, 1983.

Attorney(s) appearing for the Case

Gregory L. Mahaffey and Michael J. Blaschke of Mahaffey, Gore & Brickell, Oklahoma City, Okl., for trustee.

Joe E. Edwards and Michael A. Rubenstein of Edwards, Roberts & Winterstein, Oklahoma City, Okl., for FDIC as Receiver of Penn Square Bank, N.A.

G. Blaine Schwabe, III of Mock, Schwabe, Waldo, Elder, Reeves & Bryant, Oklahoma City, Okl., for Michigan Nat. Bank.

David Kline of Kline & Kline and Murray Cohen of Cohen & Pluess, Oklahoma City, Okl., for debtor.

Eugene P. Ledbetter, Jr., Oklahoma City, Okl., for official creditors' committee.

MEMORANDUM OF DECISION AND ORDER

RICHARD L. BOHANON, Bankruptcy Judge.

This matter comes on for hearing upon the Trustee's motion to avoid the lien and mortgage of the Federal Deposit Insurance Corporation (FDIC), as Receiver for Penn Square Bank, N.A. Having heard the testimony of various witnesses, reviewed the briefs of the parties and considered all matters of record, we make the following findings and conclusions with respect to the motion.

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