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IN RE COUNTY OF ORANGE

Bankruptcy No. SA 94-22272 JR. Adv. No. SA 95-1045 JR.

191 B.R. 1005 (1996)

In re COUNTY OF ORANGE, a political subdivision of the State of California, Debtor. COUNTY OF ORANGE, a political subdivision of the State of California, and John M.W. Moorlach, in his official capacity as Treasurer-Tax Collector of the County of Orange, Plaintiffs, v. MERRILL LYNCH & CO., INC., a Delaware corporation; Merrill Lynch, Pierce, Fenner & Smith, Inc., a Delaware corporation; Merrill Lynch Government Securities, Inc., a Delaware corporation; Merrill Lynch Capital Services, Inc., a Delaware corporation; Merrill Lynch Money Markets, Inc., a Delaware Corporation, Defendants.

United States Bankruptcy Court, C.D. California.

January 24, 1996.

Attorney(s) appearing for the Case

Bruce Bennett and Michael Hennigan of Hennigan, Mercer & Bennett, Los Angeles, CA, for Orange County.

Ronald L. Olson and Dennis C. Brown of Munger, Tolles & Olson, Los Angeles, CA, for Merrill Lynch.

MEMORANDUM OPINION

JOHN E. RYAN, Bankruptcy Judge.

On November 13, 1995, Merrill Lynch & Co., Inc., Merrill Lynch, Pierce, Fenner & Smith, Inc., Merrill Lynch Government Securities, Inc., Merrill Lynch Capital Services, Inc., and Merrill Lynch Money Markets, Inc. (collectively "Merrill Lynch") filed a motion to dismiss (the "Motion") the second amended complaint (the "Complaint") filed by the County of Orange (the "County") and John M.W. Moorlach...

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