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IN RE SANFORD

Bankruptcy No. 87-00429E, Motion No. 89-201E.

97 B.R. 835 (1989)

In re Charles F. SANFORD and Jeannette M. Sanford d/b/a Sanford Enterprises, Debtors. CITICORP ACCEPTANCE COMPANY, INC., Movant, v. Charles F. SANFORD and Jeannette M. Sanford d/b/a Sanford Enterprises, Respondents.

United States Bankruptcy Court, W.D. Pennsylvania.

March 27, 1989.

Attorney(s) appearing for the Case

Lawrence C. Bolla, Erie, Pa., for debtors.

James Richardson, for movant.

OPINION

WARREN W. BENTZ, Bankruptcy Judge.

Issue

The issue is whether § 1129(b)(2)(B) of the Bankruptcy Code permits the debtor to obtain confirmation of a Chapter 11 Plan of Reorganization over the objections of a majority of the class of unsecured non-priority creditors, where the debtor retains the equity ownership, and the unsecured creditor class is impaired. We hold the debtor's plan may not be confirmed.

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