In Re Hyun-Bok Chung

FINDINGS OF FACT AND CONCLUSIONS OF LAW

JON J. CHINEN, Bankruptcy Judge.

On October 14, 1982, Miramar Hotel (Hawaii), Inc., hereafter “Applicant”, filed an Application for Disbursal of Proceeds seeking payment of all proceeds received from the auction sale of all the equipment, furniture and inventory which had been in possession of Hyun-Bok Chung and Sin-Suk Chung, hereafter “Debtors”, who operated the Miramar Boutique (hereafter “boutique”), under a lease of Space No. 9 at the Miramar Hotel, 2345 Kuhio Avenue, Honolulu, Hawaii. Debtors contend that Applicant has no security interest in the…