Miners National Bank of Pottsville v. Schramm (In Re Schramm)

OPINION

THOMAS M. TWARDOWSKI, Bankruptcy Judge.

The present proceedings concern the complaint of Miners National Bank of Pottsville [hereinafter, the Bank], which seeks relief from the automatic stay imposed by 11 U.S.C. § 362(a) (1979). 1 For reasons hereinafter given, we conclude that the stay should not be modified.

In June of 1978, the debtors (along with other individuals not parties to this proceeding) executed a promissory note containing a confession of judgment clause, payable to the Bank in the face amount of $45,000. The note was to secure repayment of a loan given by the Bank to…