MEMORANDUM OPINION
JOHN E. RYAN, Bankruptcy Judge.
I. INTRODUCTION
On June 12, 1996, the County of Orange ("County") filed its original objection to the claim held by Appaloosa Investment Limited Partnership I, Chestnut Investment, Palomino Fund Ltd., Pinto Investors Ltd. (collectively, "Appaloosa") and Belmont Capital Partners II, L.P. (collectively with Appaloosa, the "Noteholders"). The Noteholders hold a secured claim of $64 million (the "Claim...
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