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IN RE OLDE PRAIRIE BLOCK OWNER, LLC

No. 10 B 22668.

464 B.R. 337 (2011)

In re OLDE PRAIRIE BLOCK OWNER, LLC, Debtor.

United States Bankruptcy Court, N.D. Illinois, Eastern Division.

December 22, 2011.

Attorney(s) appearing for the Case

John Ruskusky, George R. Mesires, Niles N. Park, Patrick F. Ross, Ungaretti & Harris LLP, Chicago, IL, Michael K. Desmond, Figliulo & Silverman PC, Chicago, IL, Neil E. Holmen, Walker Wilcox Matousek LLP, Chicago, IL, for Debtor.

Shima S. Roy, Andrew P. McDermott, Lawrence P. Vonckx, Baker & McKenzie LLP (Chicago), Chicago, IL, for Center-Point Properties Trust.

David A. Newby, Coman & Anderson, P.C., Lisle, IL, for Colliers Bennett & Kahnweiler.

Matthew T. Gensburg, Greenberg Taurig LLP, Chicago, IL, for CR Realty Advisors LLC.

Bradley A. Smith, Neal & Leroy LLC, Chicago, IL, for Metropolitan Pier & Exposition Authority.

Rosanne Ciambrone, Matthew A. Olins, Duane Morris LLP, Chicago, IL, Jennifer Feldsher, Andrew J. Schoulder, Kelly Koscuiszka, Bracewell & Giuliani LLP, New York, NY, for JMB Capital Partners LP.

Colleen E. McManus, Much Shelist, Chicago, IL, for Rosa Scarcelli.

MEMORANDUM OPINION ON CENTERPOINT'S MOTION TO DISMISS DEBTOR'S UPDATED THIRD AMENDED CHAPTER 11 PLAN (Docket No. 1093)

JACK B. SCHMETTERER, Bankruptcy Judge.

I. INTRODUCTION

A. Factual Background

Olde Prairie Block Owner, LLC ("Prairie" or "Debtor") is Debtor in this Chapter 11 case. Its secured creditor CenterPoint Properties Trust ("CenterPoint") has pending a Motion to Dismiss the case, contending...

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