In Re Rail King, Inc.

FINDING AS TO APPLICATION TO DISPENSE WITH DISCLOSURE STATEMENT

H.F. WHITE, Bankruptcy Judge.

This case is before the Court on the application to dispense with disclosure statement filed by debtor, Rail King, Inc., on June 9, 1983. An objection to said application was filed by Spike Industries, a member of the unsecured creditors’ committee, on June 24, 1983. A hearing was held on July 18,1983.

Rail King is a small closely-held corporation owned by one stockholder with secured debts of approximately $205,000.00 and unsecured debts of less than $100,000.00.

If Rail King had been an individual, it…