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IN RE GIBBONS

Bankruptcy No. 91-13761-JEY. Adv. No. 92-1147.

164 B.R. 207 (1993)

In re Paul GIBBONS, f/k/a Gibbons Construction, and Robin Gibbons, f/k/a Next Generation Living, Debtors. Paul GIBBONS and Robin Gibbons, Plaintiffs, v. OPECHEE DISTRIBUTORS, INC., Bank of New Hampshire, successor to The Suncook Bank, Farmington National Bank, First N.H. Bank, N.A., and Sears, Roebuck & Co., Defendants.

United States Bankruptcy Court, D. New Hampshire.

December 28, 1993.

Attorney(s) appearing for the Case

Robert M. Koch, Concord, NH, for debtors.

Alvin Nix, Laconia, NH, for Opechee Distributors, Inc.

Richard R. Peppe, Pembroke, NH, for Suncook Bank.

Carl W. Potvin, Rochester, NH, for Farmington Nat. Bank.

Lawrence Sumski, Amherst, NH, Trustee.

Memorandum Opinion

JAMES E. YACOS, Chief Judge.

This adversary proceeding came on for hearing before the Court on December 17, 1993 on cross-motions for summary judgment filed by the debtors and Opechee Distributors, Inc., a secured creditor with an attachment on the property in question.

These cross-motions raise the question of whether, when debtors have bifurcated a claim into an allowed secured claim and an allowed unsecured claim, under...

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