COMMONWEALTH OF MASSACHUSETTS

V&M MANAGEMENT, INC and ALPHONSE MOURAD,

Plaintiffs

V.

Mario NICOSIA and JUDITH MORIARTY, individually and as trustees of the L&N First Mortgage Realty Trust, Defendants

Superior Court Civil

Action No. 95-5243

(transfered from Middlesex Superior Court

C.A. No. 95-5267)

DEFENDANTS EMERGENCY MOTION FOR DISSOLUTION OF PRELIMINARY INJTJUNCTIOM OR IM THE ALTERNATIVE FOR EXPEDITED DISCOVERY AND TRIAL ANP FOR POSTING BY PLAINTIFF OF A REQUIRBD BOND

INTRODUCTION AND SUMMARY OF ARGUMENT

Through the present Motion,1 the Defendants seek leave to proceed with a previously planned foreclosure on certain property owned by the Plaintiff V&M Management, Inc. ("V&M"). V&M and its principal Alphonse Mourad ("Mourad") -- who is certainly no stranger to this Court -- are undeniably in material default of their substantial financial obligations to the Defendants on several promissory notes which are secured by various mortgages on an apartment complex located in Boston (the "Property").

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The Defendants have filed the present Motion as an emergency submission pursuant to Superior Court Rule 9A(e)(1) in light of the irreparable harm that they are continuing to suffer with this matter in its present procedural posture. See. discussion at pp. 14-15, infra.