IN RE KENNEDY MORTG. CO.

Bankruptcy No. 81-01331, Adv. No. 81-0270.

17 B.R. 957 (1982)

In re KENNEDY MORTGAGE COMPANY, Debtor. The FIRST NATIONAL BANK OF BOSTON, Plaintiff, v. Robert W. LARSON, Trustee, Kennedy Mortgage Company, Defendant.

United States Bankruptcy Court, D. New Jersey.

January 26, 1982.


Attorney(s) appearing for the Case

Davis & Reberkenny, Arthur J. Abramowitz, Cherry Hill, N.J., Pepper, Hamilton & Scheetz by J. Gregg Miller, Lloyd R. Ziff, Philadelphia, Pa., Jan Z. Krasnowiecki, Professor of Law, University of Pennsylvania Law School, Philadelphia, Pa., for plaintiff.

Greenbaum, Greenbaum, Rowe & Smith by David L. Bruck, Woodbridge, N.J., for defendant.

E. Robert Levy, Clark E. Alpert, East Orange, N.J., on the brief, amicus curiae, for Mortg. Bankers Ass'n of New Jersey.

Lowenstein, Sandler, Brochin, Kohl, Fisher & Boylan by Joseph Levow Steinberg, Roseland, N.J., for The Trust Co. of New Jersey.

Weiner & Weiner by Andrew E. Weiner, Haddonfield, N.J., and Schnader, Harrison, Segal & Lewis by Charles C. Hileman, III, Vincent P. Haley, David S. Hope, Philadelphia, Pa., for Indus. Valley Bank and Trust Co.

Archer, Greiner & Read by A. Fred Ruttenberg, Haddonfield, N.J., for Heritage Bank, N.A.

Riker, Danzig, Scherer & Hyland by Dennis J. O'Grady, Newark, N.J., for Fidelity Union Bank.

Raff, Scheider & Wiener by Alan D. Wiener, Newark, N.J., for Nat. State Bank of New Jersey.


OPINION

WILLIAM LIPKIN, Bankruptcy Judge.

On March 9, 1981, an involuntary Petition for Relief was filed against the above named Debtor, Kennedy Mortgage Company (Debtor) and on the same day the Debtor consented to the Order for Relief under the provisions of the Bankruptcy Code, 11 U.S.C. 101 sequi.

Generally stated—the Debtor's principal activity was to process applications submitted to it for mortgages on real estate and for the advancement...

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