IN RE NEW 118TH, INC.

No. 07-12333.

398 B.R. 791 (2009)

In re NEW 118th, INC., et al., Debtors.

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

January 9, 2009.


Attorney(s) appearing for the Case

Edward Smith, Esq. of Counsel, Venable LLP, New York, NY, for Richard L. Wasserman, Trustee.

Zachary B. Kass, Esq. of Counsel, Corporation Counsel of the City of New York, New York, NY, for the New York City Department of Finance.


MEMORANDUM DECISION REGARDING THE § 1146(a) TAX EXEMPTION

STUART M. BERNSTEIN, Chief Judge.

Section 1146(a) of the Bankruptcy Code grants certain tax exemptions to transfers "under a plan confirmed under section 1129 of this title." The question presented in this contested matter is whether the exemption applies to a pre-confirmation sale that closes after confirmation and is necessary to the consummation of the plan. Answering the question in...

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