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IN RE OMNE PARTNERS II

Bankruptcy No. 86-117, Adv. No. 86-34.

67 B.R. 793 (1986)

In re OMNE PARTNERS II, Debtor. Michelle CHICOINE, Daniel Courchesne Christopher Karr, David Jones and Robert M. Morin, Jr., Trustees of the Northern New England Carpenters' Pension Fund, Plaintiffs, v. OMNE PARTNERS II and City of Portsmouth, Defendants.

United States Bankruptcy Court, D. New Hampshire.

December 3, 1986.

Attorney(s) appearing for the Case

Mark Vaughn, Manchester, N.H., for City of Portsmouth.

Martha Smith, Nashua, N.H., for OMNE.

Peter Rotch, Manchester, N.H., for Abcus Mortg.

Whitton Norris, Peabody & Brown, Boston, Mass., for debtor.

J. Michael Deasy, Nashua, N.H., for Northern N.E. Carpenters Fund.

George Burns, Portland, Me., for Consolidated Construction Builders of N.H. Inc.

Lou Robin, Goldstein & Manello, Boston, Mass., for Goldstein & Manello.

MEMORANDUM OPINION

JAMES E. YACOS, Bankruptcy Judge.

This adversary proceeding brings before the court the question of the characterization and present status of a real estate transaction involving the "OMNE Mall" located in Portsmouth, New Hampshire. The debtor-defendant operates and manages this "Factory Outlet" discount mall facility.

On March 20, 1986 the debtor filed a Chapter 11 petition seeking reorganization relief in this court. On April...

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