In Re Larter N.V.

ORDER DENYING USE OF FIRE INSURANCE PROCEEDS TO FUND CREDITORS’ PLAN OF REORGANIZATION, ORDER DENYING CONFIRMATION AND DISMISSING CASE

THOMAS C. BRITTON, Bankruptcy Judge.

In September 1984 this debtor filed for bankruptcy relief under chapter 11. Four months later, a plan for reorganization was filed by several creditors through a corporation, HMS Realty Group, Inc. (C.P. No. 39). That plan has been twice amended. (C.P. Nos. 47, 72). A confirmation hearing was held on March 26. The issues presented at that hearing are presently under advisement. A pivotal issue is whether the debtor may use…