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IN RE T.P. HERNDON AND CO.

Bankruptcy No. 88-492-BKC-3P7.

87 B.R. 204 (1988)

In re T.P. HERNDON AND COMPANY, Debtor.

United States Bankruptcy Court, M.D. Florida, Jacksonville Division.

June 28, 1988.

Attorney(s) appearing for the Case

Jerry A. Funk, Jacksonville, Fla., for debtor.

Ronald Bergwerk, Jacksonville, Fla., for petitioners.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

GEORGE L. PROCTOR, Bankruptcy Judge.

This involuntary case is before the Court upon a petition filed by Eugene P. Herndon, Reba J. Barr and John T. Herndon seeking an order for relief pursuant to 11 U.S.C. § 303 against T.P. Herndon and Company, Inc. ("Debtor"). The petitioners submit that the debtor is generally not paying its debts as they become due.

The debtor denies the allegations of the petition...

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