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IN RE WATERSIDE CONST. CO., INC.

Bankruptcy No. 89-12833-HAL, Adv. No. 89-1554.

116 B.R. 9 (1990)

In re WATERSIDE CONSTRUCTION CO., INC., Debtor. HEATH MANAGEMENT CO., INC., Plaintiff, v. GUARANTY-FIRST TRUST COMPANY, and Waterside Construction Company, Inc., Defendants.

United States Bankruptcy Court, D. Massachusetts.

March 7, 1990.

Attorney(s) appearing for the Case

Robert S. Marcus, Marcus Associates, Boston, Mass., for plaintiff.

Steven J. Marullo, Marullo & Barnes, Boston, Mass., for defendant/debtor.

Richard A. Savrann, Singer, Stoneman, Kunian & Kurland, Boston, Mass., for defendant Guaranty-First Trust Co., Inc.

DETERMINATION OF MORTGAGE STATUS

HAROLD LAVIEN, Bankruptcy Judge.

This complaint by a junior mortgagee, Heath Management Co., Inc., ("Heath") challenges a second, third, and fourth mortgage held by the Guaranty-First Trust Company ("Guaranty") on the debtor's property and seeks damages on a third-party beneficiary type theory. Aside from the effect of damages, the bank's first mortgage does not appear to be seriously in dispute by this plaintiff.

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