Continental Illinois Nat. Bank & Trust Co. v. Hession

TREANOR, Circuit Judge.

This is an appeal in a section 74, Bankr. Act, 11 U.S.C.A. § 202, proceeding challenging the District Court’s order confirming debtor’s plan for extension, on the ground that the approved plan is not feasible.

Debtor is the owner of an apartment building at 7800-7802 South Marshfield Avenue (and 1641 W. 78th Street), Chicago, which contains twelve apartments. Debtor and her husband acquired the property in 1924 for $82,000, the purchase price being paid for in cash and trades. A first mortgage securing $30,000 of bonds ($27,-000 now outstanding) was executed April 15,…