El Cerrito Land Partners, LLC

4:09-bk-41370Canb2 set 2009

Testo completo

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UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
In re 	No. 09-41370 T
EL CERRITO LAND PARTNERS, 	Chapter 11
LLC,
Debtor-in-Possession.
____________________________/
MEMORANDUM RE PLAN AND DISCLOSURE STATEMENT
The debtor filed a plan and disclosure statement by a deadline
set by the Court based on the debtor’s representation that it was a
single asset real estate case debtor. 	Having reviewed the plan and
disclosure statement, the Court concludes that the plan is
fundamentally flawed and that the bankruptcy case does not appear
to have been filed in good faith. 	For example, the debtor’s
schedules list as an asset on Schedule A fee title to certain real
property. 	The disclosure statement discloses that the debtor holds
only an option to purchase title to the real property from various
tenants-in-common. 	Nevertheless, the debtor asserts that its
Signed: September 02, 2009
________________________________________
LESLIE TCHAIKOVSKY
U.S. Bankruptcy Judge
________________________________________
Entered on Docket
September 02, 2009
GLORIA L. FRANKLIN, CLERK
U.S BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
Case: 09-41370 Doc# 28 Filed: 09/02/09 Entered: 09/02/09 16:01:09 Page 1 of 3
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bankruptcy filing stays a pending foreclosure sale by a creditor
holding a deed of trust on the real property. 	The case has already
be set for a hearing on September 14, 2009 at 2:00 p.m. on the
Court’s order to show cause why it should not be converted to
chapter 7, dismissed, or a chapter 11 trustee appointed based on
the debtor’s failure to obtain court approval for its counsel. 	The
apparent misrepresentations set forth above will also be considered
at that hearing.
END OF DOCUMENT
Case: 09-41370 Doc# 28 Filed: 09/02/09 Entered: 09/02/09 16:01:09 Page 2 of 3
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COURT SERVICE LIST
El Cerrito Land Partners, LLC
1450 El Camino Real
Menlo Park, CA 94025
Attn: William F. Garlock
David J. Lonich
Law Offices of David J. Lonich
1600 Los Gamos Dr. #345
San Rafael, CA 94903
Case: 09-41370 Doc# 28 Filed: 09/02/09 Entered: 09/02/09 16:01:09 Page 3 of 3

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