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IN RE AMERICAN DEVELOPMENT CORP.

Bankruptcy No. SA 86-04702 JR.

95 B.R. 735 (1989)

In re AMERICAN DEVELOPMENT CORPORATION, a California corporation, Debtor.

United States Bankruptcy Court, C.D. California.

January 20, 1989.

Attorney(s) appearing for the Case

Dee Ann Dugan, Staff Atty., Office of the U.S. Trustee, Santa Ana, Cal., for trustee.

Todd C. Ringstad of Lobel, Winthrop & Broker, Irvine, Cal., Lael B. Stabler, Huntington Beach, Cal., for debtor.

Thomas C. Holman of Pettit & Martin, San Francisco, Cal., for FSLIC.

MEMORANDUM OPINION

JOHN E. RYAN, Bankruptcy Judge.

Debtor asks for authorization to transfer all of its assets to a wholly-owned subsidiary, Multistate Management, Inc. ("MMI"), a California corporation, pursuant to the provisions of § 363 of the Bankruptcy Code (the "Motion"). The Federal Savings and Loan Insurance Corporation ("FSLIC"), as Receiver for American Diversified Savings Bank ("ADSB"), a major creditor in this case, opposes the Motion. I...

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