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IN RE AMERICAN CONTINENTAL CORP.

Nos. Civ. 89-1231 PHX-RMB, Civ. B 89-3117 PHX-RMB.

119 B.R. 216 (1990)

In re AMERICAN CONTINENTAL CORPORATION, an Ohio corporation, Debtors.

United States District Court, D. Arizona.

September 20, 1990.

Attorney(s) appearing for the Case

Peter L. Duncan, Jennings, Engstrand & Henrikson, San Diego, Cal., for debtors in possession.

M. Laurence Popofsky, Peter J. Benvenutti, Heller, Ehrman, White & McAuliffe, San Francisco, Cal., for Arthur Young & Co.

MEMORANDUM OPINION

BILBY, District Judge.

BACKGROUND

The Chapter 11 reorganization proceedings of the eleven subsidiaries of Lincoln Savings and Loan Association (Lincoln subsidiaries) are before this Court pursuant to a withdrawal of the reference on February 2, 1990.

Arthur Young & Company and its successor in interest Ernst & Young (hereinafter "Arthur Young") have filed proofs of claim against each of the debtor estates. The...

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