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IN RE ANDERSON OAKS (PHASE I) LTD. PARTNERSHIP

Bankruptcy Nos. 87-11010-11, 87-11008-11.

77 B.R. 108 (1987)

In re ANDERSON OAKS (PHASE I) LIMITED PARTNERSHIP, Debtor. In re ANDERSON OAKS (PHASE II) LIMITED PARTNERSHIP, Debtor.

United States Bankruptcy Court, W.D. Texas, Austin Division.

August 10, 1987.

Attorney(s) appearing for the Case

Ronald King, San Antonio, Tex., for Alamo Sav.

Conde Thompson Cox, Cox & Rodnick, Austin, Tex., for debtor-appellant.

MEMORANDUM OPINION

LEIF M. CLARK, Bankruptcy Judge.

Anderson Oaks (Phase I) Limited Partnership and Anderson Oaks (Phase II) Limited Partnership each own a phase of a two-phase apartment complex on the north side of Austin, Texas. Each phase is nearly identical in size. Alamo Savings Association ("Alamo") financed the acquisition of the properties by the current partnerships and holds a first lien mortgage on the properties. Alamo is currently owed in excess...

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