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IN RE STAFFORD POOL & FITNESS CENTER

Bankruptcy No. 99-56943. Adversary No. 00-5021.

252 B.R. 627 (2000)

In re STAFFORD POOL & FITNESS CENTER, Debtor. Stafford Pool & Fitness Center, Plaintiff, v. Township of Stafford, a municipal corporation of the State of New Jersey; Residential Funding Corp., as Assignee of BNY as Nominee for Governmental Finance Co., L.P.; Governmental Finance Co., L.P.; and American Reliable Insurance Co. of Florida, Defendants.

United States Bankruptcy Court, D. New Jersey.

August 24, 2000.

Attorney(s) appearing for the Case

Timothy P. Neumann, Broege, Neumann, Fischer & Shaver, Manasquan, NJ, for debtor.

Adam D. Greenberg, Honig & Greenberg, L.L.C., Voorhees, NJ, for Residential Funding Corp. and Governmental Finance Corp.

Donald Crecca, Schwartz, Tobia & Stanziale, Rosenweig & Sedita, Montclair, NJ, for American Reliable Insurance Co. of Florida.

Charles Hutchinson, Gilmore & Monahan, P.A., Toms River, NJ, for Township of Stafford.

Stuart James, FDIC New York Legal Services Office, New York City, for F.D.I.C.

MEMORANDUM OPINION

STEPHEN A. STRIPP, Bankruptcy Judge.

This is the court's decision on a motion for summary judgment by defendants Residential Funding Corp. (hereinafter "Residential Funding") and Governmental Finance Corp. (hereinafter "Governmental Finance"), joined by defendants American Reliable Insurance Company of Florida (hereinafter "American Reliable") and the Township of Stafford, and a cross-motion for summary judgment filed by plaintiff...

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