Central Savings Bank v. Burnt Hills Associates (In re Burnt Hills Associates)

McCURN, District Judge.

MEMORANDUM-DECISION AND ORDER

This proceeding for a real property arrangement under Chapter XII of the Bankruptcy Act of 1898, as amended, is before the Court on an appeal by the debtor from an Order entered by the Bankruptcy Judge on November 5, 1979, dismissing debtor’s petition and vacating all stays and injunc-tive processes then in effect against Central Savings Bank.1

The primary issue on this appeal is whether a Chapter XII plan of arrangement may be confirmed over the objection of a sole secured creditor through application of the “cram-down” provision of Section…