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IN RE WELLS PROPERTIES, INC.

Bankruptcy No. 89 B 3407.

102 B.R. 685 (1989)

In re WELLS PROPERTIES, INC., an Illinois corporation, Debtor.

United States Bankruptcy Court, N.D. Illinois, E.D.

July 6, 1989.

Attorney(s) appearing for the Case

William J. Connelly, Hinshaw, Culbertson, Moelmann, Hoban & Fuller, Chicago, Ill., for debtor.

Douglas Lipke, Rudnick & Wolfe, Chicago, Ill., for tax purchasers.

MEMORANDUM OF DECISION

EUGENE R. WEDOFF, Bankruptcy Judge.

In order to encourage prompt payment of property taxes and collect taxes that are not promptly paid, the State of Illinois has enacted laws providing for tax sales of property as to which taxes are delinquent. In this Chapter 11 case, the debtor's principal asset, a commercial building, was sold at such a tax sale prior to the bankruptcy filing. The case is now before the court on a motion, filed...

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