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IN RE DEMAKES ENTERPRISES, INC.

Bankruptcy No. 91-12666-JNG, Adv. No. 91-1738.

143 B.R. 304 (1992)

In re DEMAKES ENTERPRISES, INC., Debtor. DEMAKES ENTERPRISES, INC., Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION as it is the Assignee of Bank of New England, N.A., Defendant.

United States Bankruptcy Court, D. Massachusetts.

June 22, 1992.

Attorney(s) appearing for the Case

Joan N. Feeney, Hanify & King, Boston, Mass., for debtor.

James M. Liston, Kaye, Fialkow, Richmond & Rothstein, Boston, Mass., for defendant.

JAMES A. GOODMAN, Bankruptcy Judge.

I. Introduction

On December 16, 1991, Demakes Enterprises, Inc. ("Demakes" or the "Debtor") filed an adversary proceeding, seeking to equitably subordinate a portion of the claim of the Federal Deposit Insurance Corporation (the "FDIC"), as the assignee of the failed Bank of New England ("BNE" or the "Bank"). The FDIC responded to the Complaint by moving to dismiss, pursuant to Federal Rule of Civil Procedure 12(b)(6), made...

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