General Motor Inns, Inc. v. L & M Properties, Inc. (In Re L & M Properties, Inc.)

MEMORANDUM OPINION

BLACKWELL N. SHELLEY, Bankruptcy Judge.

This matter comes before the Court upon the motion of General Motor Inns, Inc. (“GMI”) seeking relief from the automatic stay provided by 11 U.S.C. § 362 in order to foreclose under a deed of trust. GMI is a secured creditor of the debtor-in-possession (“L & M”), holding security interests in a number of real property leases (“the Property”) under which the debtor is the lessee. The leased properties comprise a tract of land improved by a motel which L & M operates as its business.

Finding that L & M has no equity in the Property, and…