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IN RE MEGAN-RACINE ASSOCIATES, INC.

Bankruptcy No. 92-00860.

203 B.R. 873 (1996)

In re MEGAN-RACINE ASSOCIATES, INC., Debtor.

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

February 2, 1996.

Attorney(s) appearing for the Case

Menter, Rudin & Trivelpiece, P.C. (Jeffrey Dove, Mitchell Katz, of counsel), Syracuse, NY, for Debtor.

Swidler & Berlin, Chartered (William J. Mertens, Michael L. Shor, of counsel), Washington, DC, Brian Billinson, Niagara Mohawk Power Corporation, Law Department, Syracuse, NY, for Niagara Mohawk Power Corp.

House, Golden, Kingsmill & Riess (Marguerite K. Kingsmill, W. Richard House, of counsel), New Orleans, LA, Bond, Schoeneck & King, L.L.P. (James Dati, of counsel), Syracuse, NY, for Hudson Engineering.

Hodgson, Russ, Andrews, Woods & Goodyear (Deborah L. Kelly, of counsel), Albany, NY, Dewey Ballantine (Earle O'Donnell, of counsel), Washington, DC, Dewey Ballantine (Sandor E. Schick, of counsel), New York City, for Federal Deposit Insurance Corporation.

Hinman, Howard & Katell (Amy Shapiro, of counsel), Binghamton, NY, for Examiner.

Melvin & Melvin (Kenneth J. Bobrycki, of counsel), Syracuse, NY, for TransCanada Gas Marketing, Limited.

Hancock & Estabrook, L.L.P. (Stephen Donato, of counsel), Syracuse, NY, for Kraft.

Michael Collins, Assistant U.S. Trustee, Utica, NY.

MEMORANDUM-DECISION, FINDINGS OF FACT, CONCLUSIONS OF LAW AND ORDER

STEPHEN D. GERLING, Chief Judge.

The within contested matters are before the Court by way of two motions filed by Niagara Mohawk Power Corporation ("NIMO"). NIMO's first motion seeks to terminate ("termination motion") payments it makes to Megan-Racine Associates, Inc. ("Debtor") pursuant to New York Public Service Law § 66-c(2) ("6¢ payments" or "PSL § 66-c(2)") for electrical...

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