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IN RE CONSOLIDATED PROPERTIES LTD. PARTNERSHIP

Bankruptcy No. 90-4-3408-SD.

152 B.R. 452 (1993)

In re CONSOLIDATED PROPERTIES LIMITED PARTNERSHIP, Debtor.

United States Bankruptcy Court, D. Maryland, at Rockville.

March 16, 1993.

Attorney(s) appearing for the Case

Stephen E. Leach, Tucker, Flyer & Lewis, Washington, DC, for debtor.

John H. Spellman, Hopkins & Sutter, Washington, DC, for Citibank, F.S.B.

Gladys L. Yates, Hunton & Williams, and Thomas A. Coughlin, Washington, DC, for Crestar Bank, N.A.

MEMORANDUM OPINION ON MOTION TO VALUE SECURED CLAIM

E. STEPHEN DERBY, Bankruptcy Judge.

I. Statement of the Issues.

The significant issue raised in this matter is whether there is a limit on the amount of contractual late charges and default interest that should be recognized in an oversecured creditor's claim in a Chapter 11 case, to the detriment of junior creditors.

Consolidated Properties Limited Partnership, the Debtor...

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