In re Bult

M. DEE McGARITY, Bankruptcy Judge.

This motion for relief from the automatic stay was filed on behalf of a creditor, New London Savings & Loan Association (“New London”). A final hearing on the motion was held on October 26, 1988. At that hearing, the court found that if New London has a valid perfected security interest in the property in question, there is no equity in the property. The court also found that the property is not necessary for an effective reorganization. Mr. Bult was no longer practicing law, and his plans for future use of the building were too speculative. (See court…