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IN RE EASTPORT ASSOCIATES

CV 89-4364 TJH, CV 89-3269 TJH, Bankruptcy No. LA 87-5367 AMG, Adv. No. LA 87-2413 BR.

114 B.R. 686 (1990)

In re EASTPORT ASSOCIATES, Debtor. EASTPORT ASSOCIATES, Plaintiff and Cross-Appellant, v. CITY OF LOS ANGELES, Defendant and Appellant.

United States District Court, C.D. California.

March 20, 1990.

Attorney(s) appearing for the Case

James K. Hahn, City Atty., Claudia McGee Henry, Asst. City Atty., Jeri L. Burge, Robert N. Kwong, Deputy City Attys., Los Angeles, Cal., for appellant, City of Los Angeles.

Margaret M. Morrow, Quinn, Kully and Morrow, Robert A. Greenfield, Michael H. Goldstein, Stutman, Triester & Glatt, K. Phillip Knierim, Los Angeles, Cal., for Eastport Associates.

OPINION

HATTER, District Judge.

BACKGROUND

Summary of Facts

Eastport Associates ("Eastport") is a California limited partnership, currently in Chapter 11 bankruptcy, which owns approximately 1,500 acres of undeveloped land in the Santa Monica Mountains area of Los Angeles.

In June, 1978, the City of Los Angeles ("the City") approved a change of zone, Ordinance No. 151,208, to permit a 500-unit subdivision on the property. One of...

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