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IN RE VALLAMBROSA HOLDINGS, L.L.C.

No. 08-40791.

411 B.R. 899 (2009)

In the matter of VALLAMBROSA HOLDINGS, L.L.C., Debtor Canpartners Realty Holding Company IV, L.L.C., Movant v. Vallambrosa Holdings, L.L.C., Respondent.

United States Bankruptcy Court, S.D. Georgia, Savannah Division.

March 27, 2009.

Attorney(s) appearing for the Case

Denise D. Dell-Powell, Akerman Senterfitt, Orlando, FL, for Movant.

James L. Drake, Jr., Savannah, GA, James L. Paul, Chamberlain, Hrdlicka, White, Williams & Martin, Atlanta, GA, for Respondent.

INTERIM ORDER ON MOTION TO DISMISS

LAMAR W. DAVIS, JR., Bankruptcy Judge.

I. Introduction

Debtor's case was filed May 6, 2008, on the morning of a scheduled foreclosure over a large tract of land it was developing known as the Vallambrosa Plantation ("Vallambrosa") in Chatham County, Georgia. Movant Canpartners Realty Holding Company IV, L.L.C. ("Canpartners") had advanced a loan in 2006...

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