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TIMBERLINE DEV. v. KRONMAN

263 A.D.2d 175 (2000)

702 N.Y.S.2d 237

TIMBERLINE DEVELOPMENT L. L. C., Appellant, v. MARK J. KRONMAN et al., Respondents.

Appellate Division of the Supreme Court of the State of New York, First Department.

January 11, 2000.

Attorney(s) appearing for the Case

Darlene Fairman of counsel, New York City (Susan T. Dwyer on the brief; Herrick, Feinstein, L. L. P., attorneys), for appellant.

Richard B. Cooper of counsel, New York City (Cooper, Brown & Behrle, P. C., attorneys), for respondents.

ROSENBERGER, J. P., TOM, MAZZARELLI and LERNER, JJ., concur.

OPINION OF THE COURT

RUBIN, J.

This dispute arises out of the bankruptcy of Liberty Warehouse Associates Limited Partnership, which filed for reorganization under chapter 11 of the Bankruptcy Code (11 USC) in July 1996. Defendants are all limited partners, and defendant Mark J. Kronman is a managing partner of the debtor's general partner. At issue is whether an interest in the premises owned by the debtor, which sold at auction for $16,748,190, should instead...

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