In Re Broadway 704-706 Associates

DECISION ON OBJECTION TO CONFIRMATION OF CONTINENTAL PLAN

HOWARD SCHWARTZBERG, Bankruptcy Judge.

The Chapter 11 debtor and the City of New York, Department of Finance (the “City”) object to the confirmation of the liquidating Chapter 11 plan of reorganiza tion filed by the first mortgagee, Continental Realty Credit, Inc. (“Continental”) and supported by Westinghouse Credit Corp. The plan calls for the payment of the City’s real property taxes as a seventh priority prepetition unsecured claim under 11 U.S.C. § 507(a)(7)(B), which may be paid over a period not exceeding six years in accordance…