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IN RE THOBURN LIMITED PARTNERSHIP

Case No. 12-11243-RGM Jointly Administered

513 B.R. 887 (2013)

IN RE: THOBURN LIMITED PARTNERSHIP and John M. Thoburn, Debtors.

United States Bankruptcy Court, E.D. Virginia.

Signed October 3, 2013.

Attorney(s) appearing for the Case

Bradford F. Englander , Whiteford Taylor & Preston, L.L.P., Falls Church, VA, Kevin M. O'Donnell , Henry & O'Donnell, P.C., Alexandria, VA, for Thoburn Limited Partnership.

Justin Fasano , David William Gaffey , Christopher A. Jones , Whiteford Taylor & Preston, L.L.P., Falls Church, VA, Jeffery T. Martin, Jr. , Henry & O'Donnell, P.C., Alexandria, VA, for Thoburn Limited Partnership and John Thoburn.

Jack Frankel , Office of the U.S. Trustee, Alexandria, VA, for U.S. Trustee.

(Chapter 11)

MEMORANDUM OPINION

Robert G. Mayer, United States Bankruptcy Judge

THIS CASE was before the court for valuation of the debtors' real property for purposes of confirmation of its proposed chapter 11 plan. The debtors accumulated about 15 parcels of unimproved real property. Their plan of reorganization provides that the property will be sold to a developer. The contract is subject to the contingency that the property be re-zoned...

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