Legal Opinion
North East Federal Savings & Loan Ass'n v. Mikole Developers, Inc. (In Re Mikole Developers, Inc.)
United States Bankruptcy Court, E.D. Pennsylvania
Decided October 9, 1981No. 19-10335PublishedCited by 41 opinions
1Opinion of the Court
OPINION
WILLIAM A. KING, Jr., Bankruptcy Judge.
The issue presently before the Court is whether we should grant relief from the automatic stay provisions of section 362 of the Bankruptcy Code (the Code) to permit the plaintiff, North East Federal Savings And Loan Association (“North East”) to foreclose upon commercial property owned by a debtor under Chapter 11 of the Code. We conclude that relief from the § 362 automatic stay should be granted because there exists no equity in the property and such property is not necessary to the debt- or’s effective reorganization.
The facts of the instant…
2Cases cited17 opinions
- Midlantic National Bank v. Anchorage Boat Sales, Inc. (In Re Anchorage Boat Sales, Inc.)United States Bankruptcy Court, E.D. New York · 1980
- Heritage Savings & Loan Ass'n v. Rogers Development Corp. (In Re Rogers Development Corp.)United States Bankruptcy Court, E.D. Virginia · 1980
- Terra Mar Development Corp. v. Terra Mar Associates (In Re Terra Mar Associates)United States Bankruptcy Court, D. Connecticut · 1980
- Matter of SulzerUnited States Bankruptcy Court, S.D. New York · 1980
- In Re Gustav Schaefer Co.Court of Appeals for the Sixth Circuit · 1939
12 more not listed; retrieve them via the Exa API.
3Cited by41 opinions
- In Re Timbers Of Inwood Forest Associates, Ltd.Court of Appeals for the Fifth Circuit · 1987
- La Jolla Mortgage Fund v. Rancho El Cajon AssociatesUnited States Bankruptcy Court, S.D. California · 1982
- Empire Enterprises, Inc. v. Koopmans (In Re Koopmans)United States Bankruptcy Court, D. Utah · 1982
- First Agricultural Bank v. Jug End in Berkshires, Inc. (In Re Jug End in the Berkshires, Inc.)United States Bankruptcy Court, D. Massachusetts · 1985
- In Re Planned Systems, Inc.United States Bankruptcy Court, S.D. Ohio · 1987
36 more not listed; retrieve them via the Exa API.