Pasadena Thrift & Loan Ass'n v. Bayport Equities Corp. (In Re Bayport Equities Corp.)

MEMORANDUM OF DECISION RE SANCTIONS

PETER M. ELLIOTT, Bankruptcy Judge.

Pasadena Thrift and Loan Association seeks an order imposing sanctions upon the debtor and its attorneys Edgell & Edgell. The motion, in effect, asserts that the debt- or Bayport Equities Corp. together with its attorneys filed multiple Chapter 11 cases in bad faith causing Pasadena Thrift and Loan Association to have to employ counsel to obtain four separate orders for relief of stay in order to complete their foreclosure upon a single parcel of real property. I agree that there has been an abuse of the bankruptcy process,…