In re LCGI Fairfield LLC

Ruling: 
Single asset real estate cases were not filed in bad faith.
Procedural posture: 
A creditor filed a motion to dismiss a jointly administered chapter 11 case on the grounds that the case was filed in bad faith, that there were independent grounds to dismiss the case under 11 U.S.C.S. § 1112(b), and that the court should abstain from hearing the case under 11 U.S.C.S. § 305. The debtors opposed the motion and also asserted that the motion was barred by laches.
Issue: 
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Commercial case opionion summary, case decided on February 23,2010, LexisNexis #0510-062