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IN RE 139-141 OWNERS CORP.

Nos. 04 Civ. 3641(CM), 04 Civ. 3642(CM).

313 B.R. 364 (2004)

In re 139-141 OWNERS CORP., Debtor

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

August 13, 2004.

Attorney(s) appearing for the Case

Mark Allen Frankel, Backenroth, Frankel & Krinsky, LLP, New York, NY, for Debtor.

Douglas S. Skalka, Neubert, Pepe & Monteith, New Haven, CT, for Appellee.

DECISION AND ORDER

MCMAHON, District Judge.

BACKGROUND

Appellant Debtor is the owner of two adjoining commercial properties known collectively as 139-141 Main Street, Mount Kisco, New York (the "Property"). The Property was subject to two mortgages, a $600,000 original principal amount first mortgage held by Appellee Development Strategies Company, LLC Profit Sharing Plan ("DSC"), as assignee of Fourth Federal Savings Bank, and $75,000 principal...

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