Powers Aero Marine Services, Inc. v. Merrill Stevens Dry Dock Co. (In Re Powers Aero Marine Services, Inc.)

MEMORANDUM OPINION

MANUEL D. LEAL, Bankruptcy Judge.

Two actions are before this court, both dealing with the disposition of the debtor’s yacht, the Jan Pamela II. The debtor, Powers Aero Marine, filed a complaint to compel turnover of the yacht, pursuant to 11 U.S.C. Section 543, currently being held in drydock, on January 16, 1984. Subsequently, a secured lender, the First National Bank of Oklahoma City (Bank) filed a motion for relief from the automatic stay under 11 U.S.C. Section 362. These two causes were consolidated for administrative purposes.

The debtor corporation was formed in 1979…