Legal Opinion
In re Laguna Associates Ltd.
District Court, E.D. Michigan
Decided August 12, 1992No. Bankruptcy No. 92-02870-SPublished
1Opinion of the Court
OPINION GRANTING AETNA’S MOTION TO LIFT STAY
WALTER SHAPERO, Bankruptcy Judge.
FACTUAL BACKGROUND
On March 6, 1992, Laguna Associates Limited Partnership (“Debtor”) filed a Chapter 11 petition. Aetna Casualty and Surety Company (“Aetna”) filed a Motion for Relief from the Stay pursuant to 11 U.S.C. § 362(d)(1) alleging that the case was filed in bad faith and thus, “cause” exists to lift the stay.
Aetna agreed to advance approximately $19.5 million1 to Beztak Company (“Bez-tak”), a Michigan co-partnership pursuant to certain loan documents dated as of July 20, 1988 designed to finance the…
2Cases cited25 opinions
- Albany Partners, Ltd. v. Westbrook (In Re Albany Partners, Ltd.)Court of Appeals for the Eleventh Circuit · 1984
- In the Matter of Little Creek Development Company, Debtor. Little Creek Development Co. v. Commonwealth Mortgage Corp.Court of Appeals for the Fifth Circuit · 1986
- In Re Sonnax Industries, Inc., Debtor. Sonnax Industries, Inc. v. Tri Component Products Corp.Court of Appeals for the Second Circuit · 1990
- In Re David G. Zick, Debtor. Industrial Insurance Services, Inc. v. David G. ZickCourt of Appeals for the Sixth Circuit · 1991
- In the Matter of Winshall Settlor's Trust, Julie Winshall, Trustee, Debtor-AppellantCourt of Appeals for the Sixth Circuit · 1985
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