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IN RE MARKET SQUARE ASSOCIATES, LTD.

No. 81 Civ. 6979 (MEL).

19 B.R. 111 (1982)

In re MARKET SQUARE ASSOCIATES, LTD., Debtor, In re CHESTNUT GROVE ASSOCIATES, LTD., Debtor, MARKET SQUARE ASSOCIATES, LTD. and Chestnut Grove Associates, Ltd., Plaintiffs, v. Howard N. GARFINKLE and the Estate of Howard N. Garfinkle and Barbara Garfinkle, Benjamin Garfinkle, Cyrus West and Asher Fensterheim and Dallas & Abilene Realty Corp., Forest & Greenville Realty Corp., Guardian & Johnstown Realty Corp., Carolina & Tennessee Realty Corp., Berkshire & Green Realty Corp., Chestnut Hill Properties, Inc., Endicott & Harris Realty Corp., Alabama & Missouri Realty Corp., and Samuel Kanter, Defendants.

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

April 9, 1982.

Attorney(s) appearing for the Case

Barsky, Golden & Remick, P.C., Philadelphia, Pa., for plaintiffs-appellees; Whitman & Ransom, Richard Tilton, New York City, of counsel.

Fensterheim & Fensterheim, New York City, for defendant, Asher Fensterheim.

LASKER, District Judge.

This action arises from the bankruptcy of plaintiffs, Market Square Associates, Ltd., and Chestnut Grove Associates, Ltd., ("Market Square") Pennsylvania limited partnerships which own and operate a shopping center in Philadelphia.

The land and buildings comprising the shopping center were owned in 1978 by PNB Mortgage and Realty Investors ("PNB"). In December, 1978, the corporate defendants bought the properties from PNB. In connection...

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