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Legal Opinion

In Re Island Helicopter Corp.

United States Bankruptcy Court, E.D. New York

Decided June 27, 1986No. 8-19-70830PublishedCited by 10 opinions

1Opinion of the Court

C. ALBERT PARENTE, Bankruptcy Judge.

Chemical Bank (hereinafter “Chemical”) has moved for an order to vacate the automatic stay under 11 U.S.C. § 362(d) to commence foreclosure on its security interests in the subject collateral, to wit, three Gates Lear Jets. Chemical seeks vacatur of the stay on two grounds: 1) the debtors lack equity in the collateral and the collateral is not necessary for an effective reorganization, 11 U.S.C. § 362(d)(2); and, 2) the debtors have not provided Chemical with adequate protection, 11 U.S.C. § 362(d)(1). In the alternative, Chemical requests that the debtors’…

2Cases cited27 opinions

  1. In Re American Mariner Industries, Inc., Debtor. Crocker National Bank v. American Mariner Industries, Inc., Debtor-AppelleeCourt of Appeals for the Ninth Circuit · 1984
  2. Metropolitan Life Ins. v. Murel Holding Corp.Court of Appeals for the Second Circuit · 1935
  3. In Re Pine Lake Village Apartment Co.United States Bankruptcy Court, S.D. New York · 1982
  4. Bankers Life Insurance v. Alyucan Interstate Corp. (In Re Alyucan Interstate Corp.)United States Bankruptcy Court, D. Utah · 1981
  5. Midlantic National Bank v. Anchorage Boat Sales, Inc. (In Re Anchorage Boat Sales, Inc.)United States Bankruptcy Court, E.D. New York · 1980

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3Cited by10 opinions

  1. In Re Anderson Oaks (Phase I) Ltd. PartnershipUnited States Bankruptcy Court, W.D. Texas · 1987
  2. In Re Planned Systems, Inc.United States Bankruptcy Court, S.D. Ohio · 1987
  3. In Re Grant Broadcasting of Philadelphia, Inc.United States Bankruptcy Court, E.D. Pennsylvania · 1987
  4. In Re Garsal Realty, Inc.United States Bankruptcy Court, N.D. New York · 1989
  5. Bank of New York v. Epic Resorts—Palm Springs Marquis Villas, LLC (In Re Epic Capital Corp.)United States Bankruptcy Court, D. Delaware · 2003

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