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IN RE HAROLD & WILLIAMS DEVELOPMENT CO., INC.

Bankruptcy No. 90-20225-T. Adv. No. 93-2019-T.

163 B.R. 77 (1994)

In re HAROLD & WILLIAMS DEVELOPMENT COMPANY, INC., Debtor. HAROLD & WILLIAMS DEVELOPMENT COMPANY, INC., Plaintiff, v. CRESTAR BANK, City of Norfolk, Virginia, Joseph T. Fitzpatrick, Winston G. Snider, Defendants.

United States Bankruptcy Court, E.D. Virginia, Norfolk Division.

January 12, 1994.

Attorney(s) appearing for the Case

Harry W. Jernigan, III, Virginia Beach, VA, for debtor/plaintiff.

Mark H. Mapp, Williams, Kelly & Greer, P.C., Norfolk, VA, for Crestar Bank.

Peter G. Zemanian and Peter V. Chiusano, Willcox & Savage, P.C., Norfolk, VA, for City of Norfolk and Joseph T. Fitzpatrick.

Winston G. Snider, Virginia Beach, VA.

MEMORANDUM OPINION

DOUGLAS O. TICE, Jr., Bankruptcy Judge.

In this chapter 11 case, the debtor sold at public auction real property which was subject to a deed of trust held by Crestar Bank. The court's order of sale provided for sale free of all liens, and the net proceeds after closing costs were paid to Crestar Bank in partial satisfaction of its deed of trust loan. Unfortunately, the realty was also...

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