In Re Lorraine Guardian, Ltd.

MEMORANDUM OF OPINION ON MOTION TO DISMISS

LEWIS M. KILLIAN, Jr., Bankruptcy Judge.

THIS MATTER was heard on July 26, 1989, on the motion of Federal Savings & Loan Insurance Corporation (FSLIC), as receiver for FirstSouth, F.A. to dismiss this Chapter 11 case as a bad faith filing under the authority of In re Phoenix Piccadilly, Ltd., 849 F.2d 1393 (11th Cir.1988). In connection with hearing on the motion, the Court considered, with no objection by the debtor or any other parties, the transcript of the § 341 meeting of creditors in this case, pleadings on file in the case and argument of…