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SAPOS v. PROVIDENT INST. OF SAV. IN TOWN OF BOSTON

No. 91-3768.

967 F.2d 918 (1992)

Dennis E. SAPOS v. PROVIDENT INSTITUTION OF SAVINGS IN the TOWN OF BOSTON and the United States of America, Veteran's Administration, Shawmut Mortgage Company, formerly known as Provident Institution of Savings in the Town of Boston, Appellants.

United States Court of Appeals, Third Circuit.

Decided June 26, 1992.

Attorney(s) appearing for the Case

Donald E. Calaiaro (argued), Calaiaro & Corbett, P.C., Pittsburgh, Pa., for appellee.

Gary J. Gaertner (argued), Pittsburgh, Pa., Chapter 13 Trustee.

Gerald B. Alt (argued), Carolee Berasi, Shapiro & Kreisman, Pittsburgh, Pa., for appellants.

Before: STAPLETON, ALITO and ALDISERT, Circuit Judges.

OPINION OF THE COURT

ALDISERT, Circuit Judge.

The debtor in this chapter 13 bankruptcy has received confirmation of his reorganization plan. The plan disposes of the home mortgage note held by Provident Institution of Savings (now known as Shawmut Mortgage Company) by bifurcating the amount due into an allowed secured claim equal to $17,000, the agreed value of the property at the time the bankruptcy petition was filed, and an allowed unsecured portion equal...

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