Darby Bank & Trust Co. v. Captain's Watch, LLC (In Re Captain's Watch, LLC)

MEMORANDUM AND ORDER ON MOTION FOR RELIEF FROM STAY

LAMAR W. DAVIS, JR., Bankruptcy Judge.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

Debtor’s case was filed on November 30, 2009. On April 29, 2010, Darby Bank & Trust Company (“Darby Bank”) filed a Motion for Relief from Stay seeking permission of this Court to exercise its state law remedies and foreclose upon the largest portion of Darby Bank’s collateral, a combination residential and commercial condominium located on Tybee Island, Georgia. While Darby Bank holds collateral positions over tracts of land and timber located in Toombs County,…