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IN RE POUGHKEEPSIE HOTEL ASSOCIATES JOINT VENTURE

Bankruptcy No. 91-30684.

132 B.R. 287 (1991)

In re POUGHKEEPSIE HOTEL ASSOCIATES JOINT VENTURE, Debtor.

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

October 15, 1991.

Attorney(s) appearing for the Case

Saperston & Day, P.C., Buffalo, N.Y. by Raymond L. Fink, for debtor.

Paul, Hastings, Janofsky & Walker, New York City by Harvey A. Strickon, for movant, Goldome Realty Credit Corp.

McCabe & Mack, Poughkeepsie, N.Y. by Richard A. Mitchell, for the Turner Corp. and Turner Const. Co.

Klein & Genova, Newburgh, N.Y. by Thomas Genova, co-counsel for the Turner Corp.

Jeffrey L. Sapir, White Plains, N.Y., Chapter 7 Trustee and attorney for Trustee.

Hiscock & Barclay, Buffalo, N.Y. by Michael E. Ferdman, for Federal Deposit Ins. Corp., as Receiver for Goldome, a New York State Chartered Savings Bank.

Daniel F. Curtin, State Court Receiver, c/o Corbally, Gartland & Rappleyea, Poughkeepsie, N.Y.

DECISION ON MOTION TO STRIKE DEFENSE OF EQUITABLE SUBORDINATION

JEREMIAH E. BERK, Bankruptcy Judge.

This is a motion pursuant to Fed.R.Civ.P. 12(f) by Goldome Realty Credit Corporation ("GRCC") to strike the defense of equitable subordination, interposed by The Turner Corporation and Turner Construction Company ("Turner") in opposition to GRCC's motion for relief from the automatic stay under § 362(d) of the Bankruptcy Code ("Code").

I. FINDINGS...

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