United States Bankruptcy Court, S.D. Florida. December 12, 1980, 19-11011 (Kingsail Corp. of Marathon v. Sombrero Reef Club, Inc. (In Re Sombrero Reef Club, Inc.))

FINDINGS AND CONCLUSIONS

JOSEPH A. GASSEN, Bankruptcy Judge.

In this adversary proceeding the plaintiff is the holder of the third mortgage on real property owned by the defendant-debtor, a marina-resort motel in Marathon on the Florida keys which is the sole substantial asset of the debtor.