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IN RE PARADISE BOAT LEASING CORP.

Bankruptcy No. B-79-00007.

2 B.R. 482 (1979)

In re PARADISE BOAT LEASING CORP., Debtor. BAMERICAL MORTGAGE & FINANCE COMPANY, INC., Plaintiff, v. PARADISE BOAT LEASING CORP., Defendant.

United States Bankruptcy Court, Virgin Islands, D. St. Thomas and St. John.

December 26, 1979.

Attorney(s) appearing for the Case

Frederick D. Rosenberg, Charlotte Amalie, St. Thomas, V.I., Roberto Santana, San Juan, P.R., for plaintiff.

Reginald J. Barney, San Juan, P.R., Arnold M. Selke, Charlotte Amalie, St. Thomas, V.I., for debtor.

FINDINGS AND ORDER

WILLIAM T. HOLMES, Bankruptcy Judge.

On October 23, 1979, Bamerical Mortgage & Finance Company, Inc., a lending corporation doing business in Puerto Rico, filed an application for relief from the automatic stay imposed by the Bankruptcy Code (11 U.S.C. § 362), which prevents it from enforcing a lien against the yacht Solo.

There was a preliminary hearing early in November and two other hearings from which the following...

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