Legal Opinion
In re Franke
United States Bankruptcy Court, W.D. Michigan
Decided September 20, 2001No. ST 01-02726PublishedCited by 1 opinion
1Opinion of the Court
OPINION
JO ANN C. STEVENSON, Bankruptcy Judge.
This matter comes before the Court upon the motions of several first lien holders for lift of the automatic stay under 11 U.S.C. § 362(d)(2). In all cases the first secured creditors argue that the stay should be lifted because the debtors have no equity in the property and the property is not necessary for an effective reorganization.
Furthermore, in all cases the first lien-holders have an equity cushion while a junior lien holder may not. Consequently, *134the issue before the Court is whether we have discretion to deny a first secured creditor’s…
2Cases cited11 opinions
- STEPHENS INDUSTRIES, INC., Plaintiff-Appellant, v. James R. McCLUNG, Trustee in Bankruptcy, Etc., Defendant-AppelleeCourt of Appeals for the Sixth Circuit · 1986
- Sumitomo Trust & Banking Co. v. Holly's, Inc. (In Re Holly's, Inc.)United States Bankruptcy Court, W.D. Michigan · 1992
- James P. Stewart, Trustee of the James P. Stewart and Jeanne F. Stewart Trust v. Phillip S. Gurley Dba Modoc RockCourt of Appeals for the Ninth Circuit · 1984
- Walter E. Heller Western, Inc. v. Faires (In Re Faires)United States Bankruptcy Court, W.D. Washington · 1983
- Asquino v. Palmer River Realty, Inc. (In Re Palmer River Realty, Inc.)United States Bankruptcy Court, D. Rhode Island · 1983
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3Cited by1 opinion
- In re: David Wayne Christine and Joleen Ann ChristineUnited States Bankruptcy Court, W.D. Michigan · 2009