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Belden, who represents Bakersfield company Superior Pipelines Inc. in the involuntary bankruptcy case, called the outcome a "major victory" for creditors such as his client. Superior Pipelines' claim for more than $6 million of unpaid work at McAllister Ranch would be wiped out if Lehman is allowed to foreclose.
The judge wants a trial on property values and more information on Lehman's conduct regarding the loan it is trying to foreclose on, Belden said.
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