Pennbank v. GRF, Inc. (In Re GRF, Inc.)

OPINION

WARREN W. BENTZ, Bankruptcy Judge.

Background

On April 5, 1989, Pennbank, as a secured creditor of GRF, Inc., doing business as The Station Restaurant and Rebecca’s Restaurant (“Debtor”) filed a Motion for Relief from Stay. By agreement of the parties, the requested relief was granted with the issue of whether or not Pennbank’s security interest attached to the Debtor’s liquor license remaining open for later resolution. We have now been asked to resolve this issue.

Facts

The relevant facts are not in dispute. Pennbank extended credit to the Debtor on September 5, 1986. The corresponding…