Legal Opinion
In Re Presque Isle Apartments, L.P.
United States Bankruptcy Court, W.D. Pennsylvania
Decided August 30, 1990No. 19-20863PublishedCited by 3 opinions
1Opinion of the Court
OPINION
WARREN W. BENTZ, Bankruptcy Judge.
BACKGROUND
Presque Isle Apartments, L.P. (“Debt- or”) filed objections to the unsecured claims of Joseph and Rosalind Cohen, Stanford Klapper, Edward S. Markman and Richard Jankell (collectively “Creditors”). Richard Jankell’s claim has been assigned to Northwestern National Insurance Company of Milwaukee, Wisconsin. The basis of the Debtor’s objection is that the contract rate of interest of 24% per annum violates New York usury law, which the Debtor asserts is applicable.
FACTS
The Debtor is a Pennsylvania Limited Partnership, organized in December 1983…
2Cases cited9 opinions
- Erie Railroad v. TompkinsSupreme Court of the United States · 1938
- Klaxon Co. v. Stentor Electric Manufacturing Co.Supreme Court of the United States · 1941
- Vanston Bondholders Protective Committee v. GreenSupreme Court of the United States · 1947
- Neville Chemical Company v. Union Carbide CorporationCourt of Appeals for the Third Circuit · 1970
- Hassett v. Far West Federal Savings & Loan Ass'n (In Re O.P.M. Leasing Services, Inc.)United States Bankruptcy Court, S.D. New York · 1984
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3Cited by3 opinions
- Bohm v. Dolata (In Re Dolata)United States Bankruptcy Court, W.D. Pennsylvania · 2004
- Bohm v. Horsley Co. (In Re Groggel)United States Bankruptcy Court, W.D. Pennsylvania · 2005
- CERAND & CO. v. COMMISSIONERUnited States Tax Court · 2001