First Hawaiian Bank v. Hugh Menefee Development Corp.

DECISION AND ORDER OF REVERSAL

SAMUEL P. KING, Chief Judge.

Appellant, First Hawaiian Bank, seeks relief from a stay on actions against the general partners of this chapter XII debtor. On August 3, 1977, an automatic stay issued, preventing proceedings based on individual debts of the general partners. Those partners were liable on notes signed as comakers or taken out individually for the benefit of the Debtor. Appellant commenced an adversary proceeding seeking relief from the stay on two grounds: (1) that Debtor had no equity beyond creditor-appellant’s first mortgage and (2) that the…