Cooperativa de Ahorro y Credito del Valenciano v. Sanchez (In re Sanchez)

OPINION AND ORDER

ENRIQUE S. LAMOUTTE, Chief Judge.

This matter is before the Court on the motion to lift stay filed by Cooperativa de Ahorro y Crédito del Valenciano (Cooperati-va) praying the Court to authorize the set-off of shares owned by the debtors and allegedly given as security for a loan. The debtor has opposed the motion on the grounds that section 553 of the Bankruptcy Code is not applicable to the instant case and thus the monies belong to the estate. The parties appeared before the Court on May 29, 1987 and agreed that the only issue was one of law and that there were no relevant…