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IN RE CONSOLIDATED CAPITAL EQUITIES CORP.

Bankruptcy No. 388-37346-SAF-11.

143 B.R. 80 (1992)

In re CONSOLIDATED CAPITAL EQUITIES CORPORATION, Debtor.

United States Bankruptcy Court, N.D. Texas, Dallas Division.

April 21, 1992.

Attorney(s) appearing for the Case

John Eichman, Jenkens & Gilchrist, Dallas, Tex., for CCEC Asset Management Corp.

R. Terry Bell, Andrews & Kurth, L.P., Dallas, Tex., for Chemical Bank.

MEMORANDUM OPINION AND ORDER

STEVEN A. FELSENTHAL, Bankruptcy Judge.

In July 1985 Consolidated Capital Equities Corporation (CCEC) guaranteed a $50,000,000 loan from Chemical Bank to Johnstown America Company (JAC) which JAC used in its leveraged purchase of CCEC. On December 2, 1988, CCEC filed a petition for relief under Chapter 11 of the Bankruptcy Code. Chemical filed a proof of claim as an unsecured creditor of CCEC based upon CCEC's guaranty, seeking...

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