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IN RE NORTHTOWN REALTY CO., L.P.

Bankruptcy No. 197-20942-260.

215 B.R. 906 (1998)

In re NORTHTOWN REALTY CO., L.P., Debtor.

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

January 9, 1998.

Attorney(s) appearing for the Case

Shearman & Sterling, by Arthur Norman Field, George Wade, Mary Warren, New York City, for Debtor.

Kronish, Lieb, Weiner & Hellman L.L.P., by Richard Lieb, Robert Feinstein, Jennifer Saffer, New York City, for Metropolitan Life Ins. Co.

Shaw, Licitra, Esernio & Schwartz, P.C. by John H. Hall, Jr., Garden City, NY, for Nassau Cty.

Rosen & Slome by Adam L. Rosen, Garden City, NY, for Joint Junior Noteholders and Subordinated Secured Noteholders Committee.

Office of U.S. Trustee by Alfred M. DiMino, Garden City, NY.

MEMORANDUM DECISION

CONRAD B. DUBERSTEIN, Chief Judge.

The Metropolitan Life Insurance Company, a secured creditor of debtor Northtown Realty Co., L.P., by the instant motion seeks the dismissal of debtor's recently filed chapter 11 case pursuant to 11 U.S.C.A. § 1112(b). Upon consideration of the arguments presented by all parties and for the reasons stated below, Metropolitan Life Insurance Company's motion to dismiss this chapter 11 case is granted...

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