Morris v. Columbia National Bank of Chicago

MEMORANDUM AND ORDER

MORAN, District Judge.

On March 26, 1986, appellee Barbara Morris filed a petition in the Bankruptcy Court for the Northern District of Illinois seeking relief under Chapter 11 of the Bankruptcy Code. On May 13,1986, appellant Columbia National Bank of Chicago (“Columbia”) moved in bankruptcy court for an order modifying the automatic stay granted under 11 U.S.C. § 362 which precluded Columbia from foreclosing on Morris’ properties. Columbia argued that under 11 U.S.C. § 362(d)(1) Columbia’s interest in Morris’ properties was not adequately protected, that under 11 U.S.C. §…