District Court, S.D. New York December 20, 1985, 85 Civ. 2251 (MJL) (Marine Midland Bank, N.A. v. Ladycliff College (In Re Ladycliff College))

MEMORANDUM OPINION AND ORDER

LOWE, District Judge.

Presently before the Court are cross-appeals from the order of the Bankruptcy

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Court (Ryan, J.). For the reasons stated below we affirm the order.

BACKGROUND

This appeal involves the application of a well settled principle of bankruptcy law to a truly unusual factual situation.