IN RE HEMPSTEAD REALTY ASSOCIATES

Bankruptcy No. 83 B 20365.

38 B.R. 287 (1984)

In re HEMPSTEAD REALTY ASSOCIATES, Debtor.

United States Bankruptcy Court, S.D. New York.

April 6, 1984.


Attorney(s) appearing for the Case

Blumberg, Singer, Ross, Gottesman, Paradise & Gordon, New York City, for debtor; Leon C. Baker, New York City, of counsel.

Bachner, Tally, Polevoy, Misher & Brinberg, New York City, for Massachusetts Mut. Life Ins. Co.; Henry J. Bergman, New York City, of counsel.


DECISION ON MOTION TO DISMISS CASE OR CONVERT CASE TO CHAPTER 7 PROCEEDING

HOWARD SCHWARTZBERG, Bankruptcy Judge.

The first mortgagee in this Chapter 11 case has moved under 11 U.S.C. § 1112(b)(2) for a dismissal or a conversion to Chapter 7 on the ground that the debtor is, and will remain, unable to prepare a reorganization plan which will be affirmatively accepted by a single noninsider class of creditors as required under 11 U.S.C. § 1129(a...

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