In Re JACOBY-BENDER, INC., Debtor. CITY OF NEW YORK, Appellant, v. JACOBY-BENDER, INC., Appellee

OAKES, Circuit Judge:

The City of New York appeals an order of the United States District Court for the Eastern District of New York, Frank X. Altimari, Judge, affirming a decision of the United States Bankruptcy Court, Robert J. Hall, Bankruptcy Judge, exempting the debtor, Jacoby-Bender, Inc., in a Chapter 11 reorganization, from payment of the New York City Real Property Transfer Tax, New York, N.Y., Admin.Code § 1146-2.0 (1984), on the delivery of a deed transferring a building to The Hearst Corporation. 40 B.R. 10. The bankruptcy court held that the delivery occurred under a confirmed…