Unpublished Dispositionin Re Park Towers Apartments, Ltd. [misc. 91-m-16-l(m) ]andin Re Pleasant Pointe Apartments, Ltd. [misc. 91-m-17-l(m) ], 935 F.2d 270 (6th Cir. 1991)Annotate this Case
Before KENNEDY and BOYCE F. MARTIN, Jr., Circuit Judges, and ENGEL, Senior Circuit Judge.
Park Towers Apartments, Ltd. and Pleasant Pointe Apartments, Ltd. have sought emergency relief from an order requiring that they post a supersedeas bond in the amount of eight million dollars.
We agree with their assertion that from the record that we have before us such a sum is unreasonable. As we know from our prior review of the record in this case, the merits of the case turn on the interpretation of certain contracts. The amount of the bond should represent a sum that will protect the Housing Authority from loss during the pendency of the appeal on the merits. That appeal is the appeal to the district court from the bankruptcy court which should be promptly considered.
A bond in the amount of $100,000.00 would be reasonable and it is so ordered.
The mandate on this order shall issue immediately.