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IN RE CONCORDE LTD. PARTNERSHIP

Bankruptcy Nos. 1-86-02022, 1-86-02023, Adv. No. 1-86-0243.

67 B.R. 717 (1986)

In re CONCORDE LIMITED PARTNERSHIP, and Seminole Ridge Limited Partnership, Debtors. Jenks C. PARKER and William M. Mabry, Jr., Trustee, Plaintiffs, v. CONCORDE LIMITED PARTNERSHIP and Seminole Ridge Limited Partnership, Defendants.

United States Bankruptcy Court, E.D. Tennessee.

November 25, 1986.

Attorney(s) appearing for the Case

George L. Foster, William M. Foster & Douglas R. Johnson of Hall, Haynes, Lusk and Foster, Chattanooga, Tenn., for plaintiffs.

Kyle R. Weems, of Weill & Weems, Chattanooga, Tenn., for defendants.

MEMORANDUM

RALPH H. KELLEY, Chief Judge.

The debtor, Concorde Limited Partnership, has one asset, the Concorde apartments. Likewise, Seminole Ridge Limited Partnership owns the Seminole Ridge apartments. The debtors bought the apartments indirectly from the plaintiffs, Parker and Mabry. In this proceeding, Parker and Mabry ask for relief from the automatic stay so that they can foreclose on the apartments.

The plaintiffs, Parker and Mabry, built...

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