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IN RE TALLAHASSEE ASSOCIATES, L.P.

Bankruptcy No. 90-2800-BM.

132 B.R. 712 (1991)

In re TALLAHASSEE ASSOCIATES, L.P., Debtor.

United States Bankruptcy Court, W.D. Pennsylvania.

October 15, 1991.

Attorney(s) appearing for the Case

Lori R. Beers, Mudge, Rose, Guthrie, Alexander & Ferdon, New York City, for Debtor.

William H. Schorling, James D. Newell, Klett Lieber Rooney & Schorling, Pittsburgh, Pa., for Project Finance Corp.

MEMORANDUM OPINION

BERNARD MARKOVITZ, Bankruptcy Judge.

Project Finance Corporation ("PFC") has voted against debtor's proposed Third Amended Plan of Reorganization ("Plan"). Debtor seeks to have its Plan confirmed by having it "crammed down" pursuant to 11 U.S.C. § 1129(b).

Debtor's attempt at a "cram down" will be rejected. Its Plan will not be confirmed for reasons set forth below.

-I-

BACKGROUND

Debtor, a limited...

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