IN RE SPARKS

Bankruptcy No. 92 B 21692.

171 B.R. 860 (1994)

In re Michael R. SPARKS, Debtor.

United States Bankruptcy Court, N.D. Illinois, Eastern Division.

September 14, 1994.


Attorney(s) appearing for the Case

David P. Leibowitz, Michael P. O'Neil, Freeborn & Peters, David A. Weininger, Chicago, IL, for debtor.

Michael L. Molinaro, Synde B. Keywell, Ferdinand J. Gallo, III, Katten Muchin & Zavis, Chicago, IL, for Metropolitan Life Ins. Co.

John V. Del Gaudio, Jr., Chicago, IL, for Official Committee of Unsecured Creditors.

Kathryn Gleason, Office of U.S. Trustee, Chicago, IL, for U.S. Trustee.

Paula K. Jacobi, Schwartz Cooper Greenberger & Krauss, Chicago, IL, for NBD Bank (Schiller Park Property).

Mark L. Prager, Ed Mason, Bradley S. Block, Foley & Lardner, Chicago, IL, for NBD Bank (Arlington Hgts. Property).


MEMORANDUM OPINION

RONALD BARLIANT, Bankruptcy Judge.

I. INTRODUCTION

The Debtor, Michael R. Sparks, has been a broker, developer, and operator of real estate in the Chicago area since 1961. He has specialized in owning and operating apartment buildings with a focus on so-called "corporate suite" furnished apartments. Faced with various financial difficulties, Mr. Sparks filed a voluntary chapter 11 petition on September 29, 1992...

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