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FIRST UNION NAT. BANK v. PERDIDO MOTEL GROUP

Nos. CV-91-N-0690-E, CV-92-N-0104-S.

142 B.R. 460 (1992)

FIRST UNION NATIONAL BANK OF FLORIDA, Appellant, v. PERDIDO MOTEL GROUP, INC., Appellee. PERDIDO MOTEL GROUP, INC., Appellant and Cross-Appellee, v. FIRST UNION NATIONAL BANK OF FLORIDA, Appellee and Cross-Appellant.

United States District Court, N.D. Alabama, S.D.

February 21, 1992.

Attorney(s) appearing for the Case

Robert H. Adams, Charles L. Denaburg, Walter Franklin McArdle, Najjar Denaburg PC, Wanda D. Devereaux, Pappanastos & Devereaux, Montgomery, Ala., for appellant.

Thomas J. Knight, Anniston, Ala., for appellee.

Memorandum of Opinion

EDWIN L. NELSON, District Judge.

I. Background.

This consolidated appeal arises out of bankruptcy proceedings in the United States Bankruptcy Court for the Northern District of Alabama involving the Chapter Eleven petition of Perdido Motel Group, Inc. (Perdido).1 After rejecting the debtor's first proposed plan for reorganization, the United States Bankruptcy Court for the Northern District of Alabama...

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