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LA JOLLA MORTG. FUND v. RANCHO EL CAJON ASSOCIATES

Bankruptcy No. 81-03370-M11, Complaint No. C82-00026-M.

18 B.R. 283 (1982)

LA JOLLA MORTGAGE FUND, Plaintiff, v. RANCHO EL CAJON ASSOCIATES, a California general partnership, dba Shadow Mountain, Ltd., dba University Views, Defendant.

United States Bankruptcy Court, S.D. California.

March 11, 1982.

Attorney(s) appearing for the Case

M. Richardson Lynn, Jr. and Steven L. Klein of Muns, Mehalick & Lynn, Grant D. Telfer, San Diego, Cal., for plaintiff.

James McCafferty of McCafferty & Akers, and Catherine G. Harkless of Treitler & Associates, San Diego, Cal., for defendant.

OPINION

JAMES W. MEYERS, Bankruptcy Judge.

I

On January 6, 1982, the plaintiff, La Jolla Mortgage Fund ("Fund"), filed this complaint seeking relief from the automatic stay. In the complaint, the Fund claimed that there is no equity in the property, which constitutes the collateral for two notes held by the Fund, and that the property is not necessary for an effective reorganization of the defendant-debtor, Rancho El Cajon Associates ("debtor"...

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