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IN RE EAST COAST AIRWAYS, LTD.

Bankruptcy No. 089-90418-21.

146 B.R. 325 (1992)

In re EAST COAST AIRWAYS, LTD., Debtor.

United States Bankruptcy Court, E.D. New York.

September 30, 1992.

Attorney(s) appearing for the Case

C. Steven Hackeling, Macco, Hackeling, Stern & Christensen, Huntington, N.Y., I. Leonard Feigenbaum, Special Counsel, Melville, N.Y., for debtor.

James J. Von Oiste, Port Jefferson, N.Y., for Beechcraft.

State of N.Y. Office of Atty. Gen. Robert Abrams, Barrie Goldstein, and David Cook, New York City, for DOT.

Scott Stuart, Garden City, N.Y., U.S. Trustee.

OPINION

CECELIA H. GOETZ, Bankruptcy Judge:

Before the Court is a motion to convert this three year old Chapter 11 proceeding to Chapter 7. The motion is made by the New York State Department of Transportation ("DOT"). The motion is made pursuant to 11 U.S.C. § 1112(b). The grounds recited in the motion are: (1) continuing loss to or diminution of the estate and absence of a reasonable likelihood of rehabilitation because the debtor is insolvent, not...

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