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IN RE BRENDLE'S STORES, INC.

No. 2:93CV00432.

165 B.R. 811 (1993)

In re BRENDLE'S STORES, INC., Debtor. FIRST UNION NATIONAL BANK OF NORTH CAROLINA, for Itself and as Agent for Nationsbank of North Carolina, N.A. and First Citizens Bank and Trust Company, Appellants, v. BRENDLE'S STORES, INC., Appellee.

United States District Court, M.D. North Carolina, Greensboro Division.

November 24, 1993.

Attorney(s) appearing for the Case

Bell, Davis & Pitt by Walter W. Pitt, Jr., Winston-Salem, NC, and Petree Stockton by J. Michael Booe, Charlotte, NC, for appellants.

Allman, Spry, Humphreys, Leggett & Howington by R. Bradford Leggett, Winston-Salem, NC, for appellee.

MEMORANDUM OPINION

ERWIN, Senior District Judge.

Procedural Posture

On November 22, 1992, Brendle's Stores, Inc. (Appellee) filed a voluntary petition under Chapter 11 of the Bankruptcy Code. After filing the petition, Appellee continued to operate its business and manage its property as debtor-in-possession. On or about March 17, 1993, First Union National Bank of North Carolina, for itself and as agent for NationsBank of North Carolina...

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