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IN RE ANTILLES YACHTING, INC.

Bankruptcy No. B-80-00012.

4 B.R. 470 (1980)

In re ANTILLES YACHTING, INC. d/b/a Antilles Yachting Services, Debtor.

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

May 21, 1980.

Attorney(s) appearing for the Case

Thomas K. Moore, St. Thomas, Charlotte Amalie, V.I., Reginald Barney, San Juan, P.R., for debtor.

Roger L. Campbell, St. Thomas, Charlotte Amalie, V.I., for Citibank.

Paul Hoffman, St. Thomas, Charlotte Amalie, V.I., for General Creditors Committee.

Rhys S. Hodge, St. Thomas, Charlotte Amalie, V.I., for trustee.

FINDINGS AND ORDER

WILLIAM T. HOLMES, Bankruptcy Judge.

On April 11, 1980, Citibank, a secured creditor holding a $106,000 mortgage lien on Debtor's property, filed a complaint starting an Adversary Proceeding to lift the automatic stay made operative by Section 362 of the Bankruptcy Reform Act (11 U.S.C. § 362).

The original petition for reorganization was filed February 25, 1980 stating that Debtor intends to file a plan under Chapter 11 of...

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