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IN RE EAST REDLEY CORP.

Bankruptcy No. 79-02152 WK, Adversary No. 80-0075 WK.

4 B.R. 288 (1980)

In re EAST REDLEY CORPORATION, Debtor. KARDON INDUSTRIES, INC., Plaintiff, v. EAST REDLEY CORPORATION, Defendant.

United States Bankruptcy Court, E.D. Pennsylvania.

May 16, 1980.

Attorney(s) appearing for the Case

Ronald H. Israelit, Ardmore, Pa., for plaintiff.

Herman P. Weinberg, Philadelphia, Pa., for defendant-debtor.

OPINION

WILLIAM A. KING, Jr., Bankruptcy Judge.

Presently before the Court is the Complaint of Plaintiff, Kardon Industries, ("Kardon") seeking relief from the automatic stay to allow it to proceed with mortgage foreclosure proceedings. We will lift the stay in this case because we find that the Debtor has no equity in the property and the property has not been shown to be necessary to an effective reorganization...

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