IN RE 801 SOUTH WELLS STREET LTD. PARTNERSHIP

Bankruptcy No. 95 B 21193.

192 B.R. 718 (1996)

In re 801 SOUTH WELLS STREET LIMITED PARTNERSHIP, Debtor.

United States Bankruptcy Court, N.D. Illinois, Eastern Division.

March 1, 1996.


Attorney(s) appearing for the Case

Steven R. Towbin and Stephen T. Bobo, D'Ancona & Pflaum, Chicago, IL, for Debtor.

C. Steven Tomashefsky, Timothy Chorvat, Jenner & Block, Chicago, IL, for 801 Associates, a creditor.

Michael Levinson, Gus A. Paloian, Seyfarth, Shaw, Fairweather & Geraldson, for LW-SP2, L.P., first mortgagee.


MEMORANDUM OPINION

ERWIN I. KATZ, Bankruptcy Judge.

This case presents the question of whether the Court, in an involuntary proceeding under § 303, should retain jurisdiction to resolve a dispute between junior and senior mortgagees over the entrepreneurial opportunity to redevelop the Debtor's sole asset, an apartment building. Resolution of the dispute will not affect either the Debtor or the estate, since the Debtor has stipulated that it has no...

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