IN RE WESTPOINTE, L.P.

No. 4:92CV1381-SNL.

234 B.R. 431 (1999)

In re WESTPOINTE, L.P., a Missouri Partnership d/b/a Westpointe Apartments. Northwest Village Limited Partnership, Grandview Hills Limited Partnership, Parkridge Apartments Limited Partnership, Lamplite Limited Partnership and Westpointe Limited Partnership, Appellants, v. William E. Franke, Gannon Management Company of Missouri, Prairie Properties L.L.C., and James S. Cole, Office of the U.S. Trustee, Appellees. Northwest Village Limited Partnership, Grandview Hills Limited Partnership, Parkridge Apartments Limited Partnership, Lamplite Limited Partnership and Westpointe Limited Partnership, Appellants, v. Prairie Properties, L.L.C., Cynthia J. McNeill, James S. Cole, Office of the U.S. Trustee, and Susman, Shermer, Rimmel and Shifrin, Appellees. William E. Franke, Gannon Management Company of Missouri, Cross-Appellants, v. Northwest Village Limited Partnership, Grandview Hills Limited Partnership, Parkridge Apartments Limited Partnership, Lamplite Limited Partnership and Westpointe Limited Partnership, Cross-Appellees.

United States District Court, E.D. Missouri, Eastern Division.

May 26, 1999.


Attorney(s) appearing for the Case

F. Guthrie Castle, Jr., Memphis, TN, Terry L. Pabst, Esq., St. Louis, MO, Gerald A. Rimmel, Susman & Schermer, Clayton, MO, Thomas M. Blumenthal, Paul & Camazine, Clayton, MO, Norah J. Ryan, St. Louis, MO, Mitchell A. Margo, Curtis & Oetting, St. Louis, MO, for Debtor/Appellants.

Randall C. Cahill, Cahill & Associates, St. Louis, MO, Glenn D. Gillett, U.S. Dept. of Justice, Washington, DC, Samuel Rosenthal, Curtis & Mallet-Provost, Washington, DC, Charles F. Dufour, Jr., Becker & Dufour, St. Louis, MO, Thomas G. Berndsen, Berndsen Law Offices, St. Louis, MO, Jeffrey K. Fischer, Missouri Dept. of Revenue, General Counsel's Office, Jefferson City, MO, Phyllis Schauffler, Husch & Eppenberger, St. Louis, MO, Greg Lowry, Locke & Purnell, Dallas, TX, for Appellants.

Leonora S. Long, U.S. Dept. of Justice, Office of Trustee, St. Louis, MO, Dana McWay, U.S. Bankruptcy Court, St. Louis, MO, for Trustee.


MEMORANDUM OPINION

LIMBAUGH, District Judge.

This matter is before the Court on cross-appeals from orders of the Bankruptcy Court confirming a Chapter 11 reorganization plan and valuating the bankruptcy estates. The action has a long and complex history. The action commenced on September 7, 1990, with the filing by five limited partnerships, each of which owned an apartment complex, of petitions for voluntary...

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