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IN RE IONOSPHERE CLUBS, INC.

Bankruptcy Nos. 89 B 10448 (BRL), 89 B 10049 (BRL).

112 B.R. 78 (1990)

In re IONOSPHERE CLUBS, INC. and Eastern Air Lines, Inc., Debtors.

United States Bankruptcy Court, S.D. New York.

April 2, 1990.

Attorney(s) appearing for the Case

Weil, Gotshal & Manges by Bruce R. Zirinsky, New York City, for debtors.

Sullivan & Cromwell by Robinson Lacy, New York City, for Airbus Lenders.

MEMORANDUM DECISION ON MOTION AND CROSS-MOTION TO DETERMINE SECTION 1110 STATUS

BURTON R. LIFLAND, Chief Judge.

The dispute presented herein raises a novel question as to whether a party who advances funds for the purpose of financing the acquisition of aircraft which are to be included as part of a larger pre-existing floating collateral pool is entitled to the special benefits provided in § 1110 of the Bankruptcy Code.

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