Westinghouse Credit Corp. v. Hanson Dredging, Inc. (In Re Hanson Dredging, Inc.)

FINDINGS AND CONCLUSIONS

JOSEPH A. GASSEN, Bankruptcy Judge.

This cause came on for hearing on Westinghouse Credit Corporation’s complaint for relief from stay and its motion for adequate protection.

The subject of the complaint and motion is a 40 ton Northwest Model 41 dragline, situated on the banks of the Tombigee River near Aliceville, Alabama. Westinghouse obtained a security interest in the dragline under a Security Agreement dated November 19, 1975 (Plaintiff’s Exhibit No. 1) which was properly perfected. In its complaint, it seeks a lifting of the automatic stay to permit it to replevin…