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IN RE 28th LEGISLATIVE DISTRICT COMMUNITY DEVELOPMENT CORPORATION

No. 10-14804.

In re: THE 28TH LEGISLATIVE DISTRICT COMMUNITY DEVELOPMENT CORPORATION, Chapter 11, Debtor(s).

United States Bankruptcy Court, E.D. Tennessee, Southern Division.

November 9, 2011.

Attorney(s) appearing for the Case

Kyle R. Weems , Weems & Ronan, P.C., Chattanooga, Tennessee, and Whitney Durand , Chattanooga, Tennessee, for the debtor, The 28th Legislative District Community Development Corporation

Harry R. Cash , Grant, Konvalinka & Harrison, P.C., Chattanooga, Tennessee, for Chattanooga Community Development Financial Institution, Inc.

Andrea Campbell , Arent Fox, LLP, Washington, DC, for Seedco Financial Services, Inc.

MEMORANDUM

SHELLEY D. RUCKER, Bankruptcy Judge.

The confirmation hearing on the Plan of Reorganization ("Plan") of the debtor was conducted on October 27, 2011. Counsel for the debtor, for the United States Trustee, and for the creditors, Chattanooga Community Development Financial Institution ("CCFDI") and Seedco Financial Services, Inc. ("Seedco") appeared. CCFDI and Seedco objected to the confirmation on identical bases. They alleged that the Plan cannot...

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