Prime Construction Corp. v. Riverside Development Joint Venture A-1 (In Re Prime Construction Corp.)

MEMORANDUM OPINION

DOUGLAS O. TICE, Jr., Bankruptcy Judge.

The chapter 11 debtor in possession filed this adversary proceeding by a motion for turnover of property of the estate. The subject of the motion is debtor’s bank account at Heritage Bank and Trust Co., which was subject to a prepetition writ of attachment in state court.

Trial was held on an expedited basis on April 30, 1993, after which the court ruled from the bench that the motion would be granted but with restrictions on debtor’s use of a portion of the funds. This opinion supplements the court’s bench ruling.

Facts

Debtor is a…