In Re American Development Corp.

MEMORANDUM OPINION

JOHN E. RYAN, Bankruptcy Judge.

Debtor asks for authorization to transfer all of its assets to a wholly-owned subsidiary, Multistate Management, Inc. (“MMI”), a California corporation, pursuant to the provisions of § 363 of the Bankruptcy Code (the “Motion”). The Federal Savings and Loan Insurance Corporation (“FSLIC”), as Receiver for American Diversified Savings Bank (“ADSB”), a major creditor in this case, opposes the Motion. I heard the Mo tion on November 21, 1988 and took it under submission to consider whether in light of the evidence and arguments of counsel debtor…