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IN RE GENERAL HOMES CORP.

Bankruptcy Nos. 90-04810-H3-11, 90-00192-H4-11.

134 B.R. 853 (1991)

In re GENERAL HOMES CORPORATION, FGMC, Inc., Debtors.

United States Bankruptcy Court, S.D. Texas, Houston Division.

October 30, 1991.

Attorney(s) appearing for the Case

John F. Higgins, Sheinfeld, Maley & Kay, Houston, Tex., for debtor.

Leon Komkov, Milgrim, Thomajon & Lee, P.C., New York City, for Unsecured Creditors Committee.

William Schultz, Jackson & Walker, Houston, Tex., for The Bank Group.

Dean W. Ferguson, Peter Franklin, Locke, Purnell, Rain & Harrell, Dallas, Tex., for Shearson Lehmann.

Marilee Madan, Calvin, Dylewski, Gibbs, Maddox Russell & Verner, Houston, Tex., for GFC Holding Joint Venture.

James P. Moon, Simpson, Dowd & Moon, Dallas, Tex., Proposed Special Litigation Counsel for Unsecured Creditors Committee.

MEMORANDUM OPINION

LETITIA Z. CLARK, Bankruptcy Judge.

The Third Amended Plans of Reorganization, as modified ("Plans"), of General Homes Corporation ("GHC") and FGMC, Inc. ("Debtors") were the subject of a lengthy and hotly contested proceeding. After considering the pleadings, the evidence, the arguments of counsel adduced at the hearings, and the post-hearing memoranda filed by the parties, the Court makes the following Findings of Fact and Conclusions...

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