HomeMy WebLinkAboutHearing for last day to accept or reject planIn re
GENERAL DEVELOPMENT
CORPORATION, et al.
Debtors
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UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO. 90-12231-6KC-AJC
CHAPTER 11
JOINTLY ADMINISTERED
ORDER SETTING HEARING TO CONSIDER APPROVAL OF
DISCLOSURE STATEMENT, SETTING HEARING ON CONFIRMATION
AND SETTING LAST DAY TO ACCEPT OR REJECT PLAN
A Disclosure Statement has been filed by the
Debtor, General Development Corporation ("GDC"), on August 16,
1991, as required by 11 U.S.C. Section 1125 in connection with
the proposed Joint Plan of Reorganization of GDC and the Official
Creditors' Committee. A hearing will be held commencing on
October 2, 1991 at 2:00 p.m. at the U.S. Bankruptcy Court, 51
S.W. 1st Avenue, Room 1410, Miami, Florida 33130 to consider the
adequacy of the Disclosure Statement and any objections or
modifications to it. The Disclosure Statement is on file with
the clerk of this Court. Copies of the Disclosure Statement may
be obtained by contacting Exchange Photocopy Service, 444
Brickell Avenue, Miami, Florida 33133.
Objections to the Disclosure Statement must be
filed with the Court and served on counsel for the Debtor,
Wilmer, Cutler & Pickering, attention William J. Perlstein, Esq.,
2445 "M" Street, N.W., Washington, D.C. 20037-1420; Greenberg,
Traurig, Hoffman, Lipoff, Rosen & Quentel, P.A., attention Mark
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Bloom, Esq., 1221 Brickell Avenue, 19th Floor,"Miami'• 1 rida
33131; Counsel for the Official Creditors' Committee Samuel J.
Zusmann, Jr., Esq., Maguire, Voorhis & Wells,:P.A., Two South
Orange Avenue, Orlando, Florida 32801; Counsel dor the DIP
Lenders, Carlton, Fields, Ward, Emmanuel, Smith & Cutler, P.A.,
attention Leonard Gilbert, Esq., One Harbour Place, Tampa,
Florida 33601; and the United States Trustee, attention Lynn
Gelman, Esq., 51 S.W. 1st Avenue, Room 1204, Miami, Florida
33130. Such objections shall be filed with the Court and served
on the above noted counsel so as to be received no later than
5:00 p.m., September 25, 1991. Any such objection shall state
with specificity the provisions of the Disclosure Statement to
which objection is made and shall, to the maximum extent
possible, provide suggested language for inclusion in the
Disclosure Statement. Any party requesting the opportunity to be
heard at the hearing on the Disclosure Statement shall file a
written request with the Court on or before September 25, 1991,
which shall be served on the above noted counsel and shall state
the amount of time requested for argument. Any such request
shall also state the names of witnesses that such objecting party
intends to call at such Disclosure Statement hearing and the
nature of the witness' proposed testimony. The Court shall
determine the amount of time to be devoted to argument and
testimony by objecting parties and will set forth its decision on
the amount of such time at the commencement of the hearing on
October 2, 1991. It is the Court's present intention to continue
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the hearing on October 3, 1991 at 2:00 p.m. and October 8, 1991
at 1:30 p.m. if necessary. Any further hearing dates shall be
announced in open Court.
Counsel for the Debtor is directed to send a copy of
this Order to each creditor who has filed a timely proof of claim
in GDC's case; to each creditor whose claim is listed on the
schedules filed by GDC other than as disputed, unliquidated or
contingent; and to each homesite purchaser eligible for
participation in the Homesite Purchaser Assurance Program who has
not previously executed a release of GDC. The Court finds that
this Notice conforms to the requirements of Federal Rule of
Bankruptcy Procedure 2002.
The hearing on confirmation of the Joint Plan of
Reorganization will commence on December 5, 1991 at 10:00 a.m. at
United States Bankruptcy Court, 51 S.W. 1st Avenue, Room 1410,
Miami, Florida 33130, and will continue to December 12, 1991, at
1:30 p.m., and to December 13, 1991, at 10:00 a.m., if necessary.
Any further hearing dates shall be announced in open Court.
Objections to confirmation of the Joint Plan must be filed with
the Court and served on the above noted counsel so as to arrive
no later than ten (10) days prior to the commencement of the
hearing on confirmation. Any party objecting to confirmation
shall state in such objection the specific grounds for such
objection, shall state the amount of time requested for oral
argument, and shall state the name and proposed testimony of any
witnesses they intend to call at such hearing. The Court shall
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determine the amount of time for argument and presentation of
witnesses and shall announce such determination at the
commencement of the hearing on confirmation.
Notice is further given that, in the event that one or
more impaired classes of creditors does not vote to accept the
Joint Plan, the Debtor intends to seek to obtain confirmation of
the Joint Plan pursuant to the cramdown provisions of 11 U.S.C.
Section 1129(b). The hearing on cramdown of the Joint Plan will
be held at dates to be announced in open Court at the
commencement of the confirmation hearing.
DONE AND ORDERED at Miami, Florida this/ S� day of
August, 1991.
A. JAY CRISTOL
UNITED STATES BANKRUPTCY JUDGE
Copies furnished to:
Mark D. Bloom, Esq.
William J. Perlstein, Esq.
(Attorney Perlstein is directed to mail a conformed copy of this
Order to all interested parties in these jointly administered
proceedings promptly upon receipt thereof.)
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