In Re Ashkenazy Enterprises, Inc.

MEMORANDUM OF DECISION

CALVIN K. ASHLAND, Bankruptcy Judge.

Lenders Western Savings and Loan Company, Southern California Savings and Loan Association, and Beverly Hills Savings seek to establish that the operating revenues of Le Mondrian, Le Dufy, L’Ermi-tage, and Le Parc Hotels are cash collateral. The hotels are either owned by the Ashkenazy Enterprises, Inc. or by entities owned by Ashkenazy.

The lenders hold promissory notes secured by deeds of trust in the hotels. The deeds of trust give the lenders a security interest in the hotel and a security interest in the rents, issues, and profits…