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IN RE SETTE

Bankruptcy No. 893-82550-478. Adv. No. 893-8387-478.

164 B.R. 453 (1994)

In re Mike and Grace SETTE, Debtors. Mike and Grace SETTE, Plaintiffs, v. Andrew BELLO and Gerald Veith, Defendants.

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

March 4, 1994.

Attorney(s) appearing for the Case

Lester & Fontanetta, P.C., by Roy J. Lester, Garden City, NY, for debtors/plaintiffs.

Fischoff, Gelberg & Director by Gary C. Fischoff, Garden City, NY, for defendants.

DECISION REGARDING EFFECT OF SECTION 506(a) AND (d) OF THE BANKRUPTCY CODE ON CHAPTER 13 WHOLLY UNSECURED SECOND MORTGAGE

DOROTHY EISENBERG, Bankruptcy Judge.

The Chapter 13 Debtors commenced an adversary proceeding seeking a determination by this Court that the Defendants be deemed wholly unsecured creditors in spite of the fact that they hold a valid perfected second mortgage on the Debtors' principal residence. The Debtors further seek...

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