BayBank Valley Trust Co. v. Guay (In Re Guay)

PARTIAL RULING ON MOTION FOR RELIEF FROM STAY FILED BY BAYBANK VALLEY TRUST COMPANY

ROBERT L. KRECHEVSKY, Chief Judge.

I

ISSUE

The question presented at this time is the entitlement to rents collected by a bankruptcy trustee prior to a demand for such rents by the mortgagee and holder of a “Collateral Assignment of Leases and Rents” (the assignment). The claimants are Neal Ossen, Esq., trustee of the chapter 7 estate of Jacques Guay, the debtor, and BayBank Valley Trust Company (the Bank), the holder of the mortgage and the assignment. These parties have submitted the issue upon a stipulation of…