Legal Opinion

LaSalle National Bank v. Harrow Leasing Corp. (In Re Harrow Leasing Corp.)

United States Bankruptcy Court, E.D. Pennsylvania

Decided December 21, 1983No. 19-10816PublishedCited by 5 opinions

1Opinion of the Court

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue in the case sub judice is whether we should modify the automatic stay imposed by section 362(a) of the Bankruptcy Code (“the Code”) in order to permit the plaintiff to proceed with foreclosure of the debtor’s aircraft. We conclude that the plaintiff is entitled to such relief because its interest is not adequately protected in that: (1) the debtor has no equity in the subject aircraft; (2) the debtor’s “plan” to adequately protect the plaintiff is, at this juncture, mere conjecture and cannot, therefore, serve as adequate protection of the…

2Cases cited8 opinions

Mellon Bank, N.A. v. Aetna Business Credit, Inc.Court of Appeals for the Third Circuit · 1980
Commonwealth State Employees' Retirement Fund v. RoaneDistrict Court, E.D. Pennsylvania · 1981
Frankford Trust Co. v. Dublin Properties (In Re Dublin Properties)United States Bankruptcy Court, E.D. Pennsylvania · 1981
Commonwealth of Pennsylvania State Employes' Retirement Fund v. Roane (In Re Roane)United States Bankruptcy Court, E.D. Pennsylvania · 1981
In Re Boca Development AssociatesUnited States Bankruptcy Court, S.D. New York · 1982

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3Cited by5 opinions

Hamilton Bank v. Diaconx Corp. (In Re Diaconx Corp.)United States Bankruptcy Court, E.D. Pennsylvania · 1987
In Re Reading Tube IndustriesUnited States Bankruptcy Court, E.D. Pennsylvania · 1987
Powers Aero Marine Services, Inc. v. Merrill Stevens Dry Dock Co. (In Re Powers Aero Marine Services, Inc.)United States Bankruptcy Court, S.D. Texas · 1984
In Re Eureka Southern Railroad Inc.United States Bankruptcy Court, N.D. California · 1987
Southwest National Bank of Pennsylvania, N.A. v. St. Clair Supply Co. (In re St. Clair Supply Co.)District Court, W.D. Pennsylvania · 1989