IN RE LANDMARK LAND CO. OF CAROLINA, INC.

Nos. 94-2475, 94-2490 through 94-2493 and 94-2550.

76 F.3d 553 (1996)

In re LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, a Delaware Corporation, et al, Debtors. LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, etc., et al, Debtors-Appellants, Resolution Trust Corporation, a receiver (formerly conservator) for Oak Tree Federal Savings Bank, Creditor-Appellant, v. D. Scott CONE; John Wilson Reed, Respondents-Appellees, Bernard G. Ille, et al, Claimants-Appellees, Jones, Day, Reavis & Pogue; McGlinchey, Stafford & Lang; McNair & Sanford, P.A., Parties in Interest-Appellees, Alpha Nursery, Incorporated, et al, Creditors, 88314 Ontario Limited, et al, Claimants, Bureau of Indian Affairs, et al, Respondents, US Trustee, Trustee. In re LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, a Delaware Corporation, et al, Debtors. LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, etc., et al, Debtors-Appellees, Resolution Trust Corporation, a receiver (formerly conservator) for Oak Tree Federal Savings Bank, Creditor-Appellee, v. Gerald G. BARTON, et al, Claimants-Appellants, Jones, Day, Reavis & Pogue; McGlinchey, Stafford & Lang; McNair & Sanford, P.A., Parties in Interest, Alpha Nursery, Incorporated, et al, Creditors, 88314 Ontario Limited, et al, Claimants, Bureau of Indian Affairs, et al, Respondents, US Trustee, Trustee. In re LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, a Delaware Corporation, et al, Debtors. LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, etc., et al, Debtors-Appellees, Resolution Trust Corporation, a receiver (formerly conservator) for Oak Tree Federal Savings Bank, Creditor-Appellee, v. McNAIR & SANFORD, P.A., Party in Interest-Appellant, Jones, Day, Reavis & Pogue; McGlinchey, Stafford & Lang, Parties in Interest, Alpha Nursery, Incorporated, et al, Creditors, 88314 Ontario Limited, et al, Claimants, Bureau of Indian Affairs, et al, Respondents, US Trustee, Trustee. In re LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, a Delaware Corporation, et al, Debtors. LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, etc., et al, Debtors-Appellees, Resolution Trust Corporation, a receiver (formerly conservator) for Oak Tree Federal Savings Bank, Creditor-Appellee, v. McGLINCHEY, STAFFORD & LANG, Party in Interest-Appellant, Jones, Day, Reavis & Pogue; McNair & Sanford, P.A., Parties in Interest, Alpha Nursery, Incorporated, et al, Creditors, 88314 Ontario Limited, et al, Claimants, Bureau of Indian Affairs, et al, Respondents, US Trustee, Trustee. In re LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, a Delaware Corporation, et al, Debtors. LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, etc., et al, Debtors-Appellees, Resolution Trust Corporation, a receiver (formerly conservator) for Oak Tree Federal Savings Bank, Creditor-Appellee, v. JONES, DAY, REAVIS & POGUE, Party in Interest-Appellant, McNair & Sanford, P.A.; McGlinchey, Stafford & Lang, Parties in Interest, Alpha Nursery, Incorporated, et al, Creditors, 88314 Ontario Limited, et al, Claimants, Bureau of Indian Affairs, et al, Respondents, US Trustee, Trustee. In re LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, a Delaware Corporation, et al, Debtors. LANDMARK LAND COMPANY OF CAROLINA, INCORPORATED, etc., et al, Debtors-Appellants, Resolution Trust Corporation, a receiver (formerly conservator) for Oak Tree Federal Savings Bank, Creditor-Appellant, v. D. Scott CONE; John Wilson Reed, Respondents-Appellees, Bernard G. Ille, et al, Claimants-Appellees, Jones, Day, Reavis & Pogue; McGlinchey, Stafford & Lang; McNair & Sanford, P.A., Parties in Interest-Appellees, Alpha Nursery, Incorporated, et al, Creditors, 88314 Ontario Limited, et al, Claimants, Bureau of Indian Affairs, et al, Respondents, US Trustee, Trustee.

United States Court of Appeals, Fourth Circuit.

Decided February 15, 1996.


Attorney(s) appearing for the Case

ARGUED: Henry Robbins Lord, Piper & Marbury, Baltimore, Maryland, for Appellants. John Wilson Reed, New Orleans, Louisiana; Patrick Michael Duffy, McNair & Sanford, P.A., Charleston, South Carolina, for Appellees. ON BRIEF: Stephen H. Kaufman, Piper & Marbury, Baltimore, Maryland; Nathan B. Feinstein, Daniel J. Carrigan, Timothy P. Branigan, Kimberly E. Wolod, Piper & Marbury, Washington, D.C.; Kevyn D. Orr, Resolution Trust Corporation, Washington, D.C., for Appellants. Richard L. Tapp, Jr., McNair & Sanford, P.A., Charleston, South Carolina; M. Dawes Cooke, Jr., Robert Gritton, Barnwell, Whaley & Stevenson, Charleston, South Carolina; Craig Caesar, Timothy Scott, McGlinchey, Stafford & Lang, New Orleans, Louisiana; Paul O'Hearn, R. Matthew Martin, Jones, Day, Reavis & Pogue, Atlanta, Georgia; Evan Park Howell, III, Metairie, Louisiana, for Appellees.

Before RUSSELL, NIEMEYER, and MICHAEL, Circuit Judges.


Affirmed in part and reversed in part by published opinion. Judge DONALD RUSSELL wrote the opinion, in which Judge NIEMEYER and Judge MICHAEL joined.

OPINION

DONALD RUSSELL, Circuit Judge:

This case comes before this Court at the twilight of the Debtors' bankruptcy proceedings. The Resolution Trust Corporation ("RTC") has already taken control of the Debtors and has liquidated their assets. The bankruptcy proceedings have proven to be successful...

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