In Re 400 South Main Street

DECISION AND ORDER

ARTHUR N. VOTOLATO, Jr., Bankruptcy Judge.

Heard on April 16 and May 21, 1991 on the motion of Old Stone Bank (Old Stone) for relief from stay, and for leave to foreclose on the Debtor’s real estate, pursuant to 11 U.S.C. § 362(d)(1) and (2) and on the Debtor’s objection thereto. In light of the apparent lack of equity in the property, the Trustee has not actively opposed Old Stone’s motion.

FACTS

The debtor filed its Chapter 11 petition more than one year ago, on May 3, 1990, listing as the only secured claim, a debt to Old Stone in the principal amount of $675,-000. The total…