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IN RE KAR DEVELOPMENT ASSOCIATES, L.P.

Bankruptcy No. 93-22056-11. Civ.A. No. 94-2323-GTV.

182 B.R. 870 (1995)

In re KAR DEVELOPMENT ASSOCIATES, L.P., Debtor. CITY OF OLATHE, KANSAS, Security Bank of Kansas City, and Alchemedes/Olathe Inn Limited Partnership, Appellants, v. KAR DEVELOPMENT ASSOCIATES, L.P., Appellee.

United States District Court, D. Kansas.

May 25, 1995.

Attorney(s) appearing for the Case

R. Pete Smith, Jonathan A. Margolies, McDowell, Rice & Smith, P.C., Kansas City, MO, for debtor/appellee.

Mark A. Shaiken, Lucinda S. Woolery, Stinson, Mag & Fizzell, Kansas City, MO, for appellants.

MEMORANDUM AND ORDER

VAN BEBBER, Chief Judge.

This case is before the court on appellants' motion and amended motion for stay pending appeal (Doc. 22 and 26). For the reasons that follow, the motion for stay is denied.

I. Background

The debtor in this bankruptcy case operates a hotel. To help finance the hotel's construction, the debtor entered into an industrial revenue bond (IRB) transaction, as authorized by Kansas statute, K...

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