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IN RE DESERT ENTERPRISES

Bankruptcy No. BK-S-87-00433-RCJ.

87 B.R. 631 (1988)

In re DESERT ENTERPRISES, d/b/a Oak Tree Apartments, Debtor.

United States Bankruptcy Court, D. Nevada.

May 9, 1988.

Attorney(s) appearing for the Case

Timothy S. Cory, Las Vegas, Nev., for debtor.

Kelly H. Schofield, Miles, Pico & Mitchell, Las Vegas, Nev., for First Western Sav.

MEMORANDUM DECISION

ROBERT CLIVE JONES, Chief Judge.

The Debtor, Desert Enterprises ("Debtor"), objects to the claim of secured creditor First Western Savings ("First Western"). For the reasons set forth below, the objection is overruled and the claim will be allowed.

FACTS

On April 18, 1977, Robert Bigelow and Robert Banks borrowed $500,000 from American Savings & Loan Association ("ASL"). They executed a note in favor of ASL in the...

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