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In re 400 Walnut Assocs. LP

In re 400 Walnut Assocs. LP

Ruling
Rents which were purportedly assigned to mortgagee were property of the estate and cash collateral which could be used by debtor on condition of adequate protection.
Procedural posture

A chapter 11 debtor filed a motion for use of cash collateral. A creditor filed a corresponding motion for relief from the automatic stay. Each motion was opposed.

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Commercial opinion summary, case decided on February 22, 2011 , LexisNexis #0311-076