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IN RE A.J. LANE & CO., INC.

Bankruptcy Nos. 89-40268-JFQ to 89-40272-JFQ.

113 B.R. 821 (1990)

In re A.J. LANE & CO., INC., Lane Homes, Inc., Lane Management, Inc., Fountainhead Associates of Westborough, Andrew J. Lane, Debtors.

United States Bankruptcy Court, D. Massachusetts.

May 1, 1990.

Attorney(s) appearing for the Case

Scott D. Rosen, Hoberman & Pollack, Hartford, Conn., for Shawmut First Bank and Trust Co.

George Tetler, Bowdith & Dewey, Worcester, Mass., for Official Creditors' Committee.

Charles Dougherty, Hill & Barlow, Boston, Mass., for debtor.

OPINION

JAMES F. QUEENAN, Jr., Bankruptcy Judge.

The Official Unsecured Creditors' Committee (the "Committee") moves for disallowance of the prepayment charge asserted by Shawmut First Bank and Trust Company (the "Bank") under its loan documents with the individual Debtor, Andrew J. Lane. Presented are questions of whether a prepayment charge is subject to the principles governing provisions for liquidated damages, and, if so, whether these charges are valid...

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