IN RE BAXTER & BAXTER, INC.

Bankruptcy No. 91-B-15101(PBA).

172 B.R. 198 (1994)

In re BAXTER & BAXTER, INC., Debtor.

United States Bankruptcy Court, S.D. New York.

September 22, 1994.


Attorney(s) appearing for the Case

Tenzer, Greenblatt, Fallon & Kaplan by James Glass, Glen Rubin, New York City, for debtor.

Reisman, Peirez, Reisman & Calica by Jerome Reisman, Garden City, NY, for Dime Sav. Bank of Williamsburgh.


MEMORANDUM DECISION DENYING MOTION FOR CONFIRMATION AND GRANTING MOTION TO LIFT AUTOMATIC STAY

PRUDENCE BEATTY ABRAM, Bankruptcy Judge.

The debtor has sought confirmation of a plan of reorganization in this single-asset real estate Chapter 11 case under the "cramdown" provisions of Bankruptcy Code § 1129(b). For the reasons more fully discussed below, the plan cannot be confirmed and the secured creditor's motion to lift the automatic stay should...

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