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IN RE DELTACORP, INC.

Bankruptcy No. 89 B 11759 (TLB), Adv. No. 89-6273A.

111 B.R. 419 (1990)

In re DELTACORP, INC., Debtor. DELTACORP, INC., Plaintiff, v. OFFICE OF THRIFT SUPERVISION, Resolution Trust Corporation, Federal Deposit Insurance Corporation and the Honorable Mary Little Parell, as Commissioner of Banking for the State of New Jersey, Defendants.

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

March 13, 1990.

Attorney(s) appearing for the Case

Gordon, Hurwitz, Butowsky, Weitzen, Shalov & Wein by David Friedman, New York City, for Deltacorp, Inc.

Jordan Luke, General Counsel, Thomas J. Segal, Associate General Counsel, Steven W. Dimmick, Sr., Washington, D.C., for Office of Thrift Supervision.

Debevoise & Plimpton by Steven Klugman, Edwin G. Schallert, New York City, Dorothy L. Nichols, Associate General Counsel, Vivian A. Comer, Thomas A. Schulz, Asst. General Counsels, Kathryn Norcross, Sr. Counsel, Rodney D. Ray, Sr. Atty., Washington, D.C., for Resolution Trust Corp. and Federal Deposit Ins. Corp.

Peter N. Perretti, Jr., Atty. Gen. of New Jersey, Jack M. Sasatino, Asst. Atty. Gen., of counsel, Sharon L. Young, Barbara S. Goldsmith, Deputy Attys. Gen., for the Honorable Mary Little Parell, as Com'r of Banking for State of N.J.

TEXT OF BENCH RULING DELIVERED ON NOVEMBER 2, 1989

TINA L. BROZMAN, Bankruptcy Judge.

Deltacorp. Inc. (Deltacorp), the debtor in possession in this chapter 11 case and the ultimate 53% parent of a non-debtor holding company which owns an insolvent, federally insured savings and loan association called Colonial Savings Bank (Colonial), seeks a preliminary injunction preventing for the Office of Thrift Supervision (OTS), the Resolution Trust Corporation, the...

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