First National Bank of Boston v. Marine Optical, Inc. (In Re Marine Optical, Inc.)

CYR, Bankruptcy Judge.

Appeal is taken from an order authorizing the use of cash collateral. Marine Optical, Inc. commenced these voluntary chapter 11 reorganization proceedings October 21, 1980, followed by the subject motion to use cash collateral under Bankruptcy Code § 363(c)(2)(B). 1 The bankruptcy court promptly scheduled an emergency hearing for October 23, 1980 and ruled on the motion from the bench, 2 authorizing the use of cash collateral of the appellant in payment of prepetition priority wage, salary, and commission claims of employees and sales personnel employed by Marine Optical…