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IN RE PANTHER MOUNTAIN LAND DEVELOPMENT, LLC

BAP No. 10-6086.

446 B.R. 282 (2011)

In re PANTHER MOUNTAIN LAND DEVELOPMENT, LLC, Debtor. National Bank of Arkansas, Movant-Appellant v. Panther Mountain Land Development, LLC, Debtor-Appellee The Holloway Firm, Inc., Respondent-Appellee.

United States Bankruptcy Appellate Panel of the Eighth Circuit.

Decided: April 15, 2011.

Attorney(s) appearing for the Case

Stephen L. Gershner , Little Rock, AR, Charles Darwin Davidson , Little Rock, AR, on brief, for appellant.

Richard L. Ramsay , Little Rock, AR, James Henry Penick, III , Little Rock, AR, for appellee.

Before SCHERMER, FEDERMAN and VENTERS, Bankruptcy Judges.

FEDERMAN, Bankruptcy Judge.

Debtor Panther Mountain Land Development, LLC owns certain tracts of undeveloped real estate. More than a year prior to the filing of this bankruptcy case, representatives of the Debtor obtained the approval of the Pulaski County Court to form certain Improvement Districts under applicable Arkansas statutes. The Improvement Districts are separate entities which are not themselves in bankruptcy. Secured creditor National Bank of Arkansas...

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