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MATTER OF T.F. STONE CO., INC.

No. 95-10327.

72 F.3d 466 (1995)

In the Matter of T.F. STONE COMPANY, INC., Debtor. T.F. STONE COMPANY, INC., Appellant, v. Lucy HARPER, County Treasurer of Bryan County, Oklahoma, Appellee.

United States Court of Appeals, Fifth Circuit.

December 28, 1995.

Attorney(s) appearing for the Case

Samuel M. Stricklin, Robert J. Taylor, Sheinfeld, Maley & Kay, Dallas, TX, for appellant.

Gregory Steven Jenkins, Jeff Lee Mixon, Assistant District Attorney, Office of the District Attorney, Durant, OK, for appellee.

Before REAVLEY, HIGGINBOTHAM and BARKSDALE, Circuit Judges.

PATRICK E. HIGGINBOTHAM, Circuit Judge:

This appeal raises the question whether a peppercorn price received in a noncollusive, lawfully conducted tax foreclosure sale of the real property of a Chapter 11 debtor can constitute "present fair equivalent value" within the meaning of § 549(c) of the Bankruptcy Code, 11 U.S.C. § 549(c). T.F. Stone Companies, Inc., a reorganized debtor in possession, sought a money judgment in bankruptcy court against the Treasurer...

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