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IN RE MOUNT PLEASANT LTD. PARTNERSHIP

Bankruptcy Nos. SL91-86763, ST92-83818 to ST92-83820.

144 B.R. 727 (1992)

In re MOUNT PLEASANT LIMITED PARTNERSHIP, Debtor-in-Possession. In re GRAND TRAVERSE DEVELOPMENT COMPANY LIMITED PARTNERSHIP, Grand Traverse Development Company, Inc., and Grand Traverse Condominium Developers, Inc., Debtors-in-Possession.

United States Bankruptcy Court, W.D. Michigan.

September 1, 1992.

Attorney(s) appearing for the Case

Dickinson, Wright, Moon, VanDusen & Freeman (William D. Tomblin, briefed), Lansing, Mich., for debtor Mount Pleasant Ltd. Partnership.

Glassen, Rhead, McLean, Campbell & Bergamini (Roland F. Rhead, briefed), Lansing, Mich., for Meadowbrook Investment Co.

Miller, Canfield, Paddock & Stone (James G. Vantine, Jr., briefed), Kalamazoo, Mich., for Comerica Bank.

Schafer & Weiner, P.C. (Daniel J. Weiner, argued), Birmingham, Mich., for debtors Grand Traverse Development Co. Ltd. Partnership, Grand Traverse Development Co., Inc., and Grand Traverse Condominium Developers, Inc.

Clark, Klein & Beaumont (Michael S. Khoury, argued), Detroit, Mich., for Board of Trustees of the General Retirement System of the City of Detroit and GRS Grand Hotel Corp.

CONSOLIDATED OPINION REGARDING ASSIGNMENT OF RENTS

JO ANN C. STEVENSON, Bankruptcy Judge.

I. INTRODUCTION.

At issue in these two cases are the relative rights of secured creditors and debtors in rents subject to an assignment of rents. Because the outcome of pending motions in these two chapter 11 cases are controlled by similar sets of facts and questions of law, the Court on its own motion consolidates these two matters for the limited purpose...

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