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IN RE 222 LIBERTY ASSOCIATES

Bankruptcy No. 88-11535S.

108 B.R. 971 (1990)

In re 222 LIBERTY ASSOCIATES, Debtor.

United States Bankruptcy Court, E.D. Pennsylvania.

January 4, 1990.

Attorney(s) appearing for the Case

Stephen Raslavich, Philadelphia, Pa., for debtor.

Laurence J. Kaiser, Kronish, Lieb, Weiner & Hellman, New York City, for Donald L. Wolk.

Peter Meltzer, Drinker, Biddle & Reath, Philadelphia, Pa., for Goldome Realty Credit Corp.

Andrew N. Schwartz, Philadelphia, Pa., for creditors' committee.

Steven B. Mirow, Philadelphia, Pa., for Philip J. Banks.

Kenneth Carobus, Philadelphia, Pa., for Holt's Cigar Co.

James J. O'Connell, Ass't. U.S. Trustee, Philadelphia, Pa., U.S. Trustee.

OPINION

DAVID A. SCHOLL, Bankruptcy Judge.

A. INTRODUCTION

We are called upon to confirm, if possible, one of two alternative plans of reorganization submitted by Donald L. Wolk (hereinafter referred to as "Wolk"), one of two general partners (the other being Philip J. Banks ("Banks")1) of Debtor 222 Liberty Associates, a New York Limited Partnership ("the Debtor"). The Plans under consideration are Wolk's Fifth Amended...

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