In Re Lee

FINDINGS OF FACT, CONCLUSIONS OF LAW AND MEMORANDUM OPINION

ALEXANDER L. PASKAY, Bankruptcy Judge.

THIS IS a hotly contested involuntary Chapter 7 case commenced originally by a Petition for Relief pursuant to § 303 of the Bankruptcy Code by Crossroads Real Estate, Inc., (Crossroads) against James Lee (Lee). In the original Petition, Crossroads alleged that Lee has less than 12 creditors and he is generally not paying his debts as they become due. In due course, Lee filed a response to the Petition alleging that he had in excess of 12 creditors and that he has sufficient sums to make his…