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IN RE WATER GAP VILLAGE

Bankruptcy No. 83-01021.

59 B.R. 23 (1985)

In re WATER GAP VILLAGE, A Limited Partnership of the State of New Jersey, Debtor.

United States Bankruptcy Court, D. New Jersey.

October 18, 1985.

Attorney(s) appearing for the Case

United States Atty.'s Office by Susan Cassell, and Nelson Chan, Philadelphia, Pa., for The Dept. of Housing & Urban Development.

Hannoch, Weisman, Stern, Besser, Berkowitz & Kinney by Jane Mathews, Roseland, N.J., for Leroy Shoesmith and Kenalty Corp.

Sills, Beck, Cummis, Zuckerman, Radin & Tischman by Robert A. Baime, Newark, N.J., for Debtor.

OPINION

VINCENT J. COMMISA, Bankruptcy Judge.

The facts in this matter are as follows:

Water Gap Village [hereinafter the "Debtor"], a Limited Partnership of the State of New Jersey, filed a petition for reorganization under Chapter 11 of the Bankruptcy Code [hereinafter the "Code"], on February 16, 1983. Since the time of its Chapter 11 filing, the Debtor has operated its business as a debtor-in-possession. The Debtor's business involves the ownership...

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