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MATTER OF LONG DEVELOPMENT, INC.

Bankruptcy No. 91-84522, Adversary No. 93-8216.

211 B.R. 232 (1994)

In the Matter of LONG DEVELOPMENT, INC., Debtor. OFFICIAL UNSECURED CREDITORS COMMITTEE OF LONG DEVELOPMENT, INC., Plaintiff, v. OAK PARK VILLAGE LIMITED PARTNERSHIP and Oak Park Village No. 2 Limited Partnership, jointly and severally, Defendants.

United States Bankruptcy Court, W.D. Michigan.

August 22, 1994.

Attorney(s) appearing for the Case

Gary H. Cunningham, Bloomfield Hills, MI, for Plaintiff Official Unsecured Creditors Committee of Long Development, Inc.

Ronald R. Sutton, Lansing, MI, for Defendants Oak Park Village Limited Partnership and Oak Park Village No. 2 Limited Partnership.

OPINION REGARDING PARTIAL ASSIGNMENT OF DEBTOR'S INTEREST IN PROMISSORY (WRAP) NOTES

JAMES D. GREGG, Bankruptcy Judge.

I. ISSUES

Among other things, this adversary proceeding raises the following issues. First, does the Official Unsecured Creditors Committee (the "Committee") have standing to bring this adversary proceeding against Oak Park Village Limited Partnership and Oak Park Village No. 2 Limited Partnership (the "Defendants" or the...

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