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IN RE SUMMIT VENTURES, INC.

Bankruptcy Nos. 90-00213 through 90-00221.

135 B.R. 478 (1991)

In re SUMMIT VENTURES, INC., Summit Realty, Inc., Summit of Brownsville Management Inc., Summit Food Services, Inc., Summit Wastewater Company, Inc., Mt. Ascutney Associates, Mt. Ascutney Associates Realty Company, Inc., Summit Water Company, Inc., Robert Trent Jones, Jr. Golf and Conference Center, Debtors.

United States Bankruptcy Court, D. Vermont.

July 9, 1991.

Attorney(s) appearing for the Case

A. Bell, and J. Swift, Langrock Sperry & Wool, Burlington, Vt., P. Fine, and S. Manchel, Choate, Hall & Stewart, Boston, Mass., for Joseph A. Grano (Grano).

J. Canney, III, Hull, Webber, Reis & Canney, Interim Trustee, pro se (trustee).

G. Crawford, O'Neil & Crawford, P.C., Burlington, Vt., for Lloyds Bank Plc (Lloyds).

S. Prentice, Burlington, Vt., for Chittenden Trust Co. (Chittenden).

D. Wolinsky, P. Saxer, Saxer, Anderson, Wolinsky and Sunshine, Burlington, Vt., for debtors.

MEMORANDUM OF DECISION ON APPLICATION OF CHAPTER 7 INTERIM TRUSTEE FOR AN EMERGENCY BORROWING ORDER

FRANCIS G. CONRAD, Bankruptcy Judge.

We are asked, in this matter,1 to decide between two competing superpriorities; namely, whether superseding Chapter 7 administrative expenses should be paid in full before priority administrative claims in the superseded Chapter 11 case. For policy reasons...

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