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IN RE ROGERS DEV. CORP.

Bankruptcy Nos. 79-01532, 79-01533, Adv. No. 79-0003.

2 B.R. 679 (1980)

In re ROGERS DEVELOPMENT CORP. and Beaverdam Farms, Inc., Debtors. HERITAGE SAVINGS & LOAN ASSOCIATION and Henry Pollard, IV, Substitute Trustee, Plaintiffs, v. ROGERS DEVELOPMENT CORP. and Beaverdam Farms, Inc., Defendants.

United States Bankruptcy Court, E.D. Virginia.

February 14, 1980.

Attorney(s) appearing for the Case

Daniel M. McCormack, Richmond, Va., for debtors/defendants.

Donald W. Lemons, Richmond, Va., for plaintiffs.

SUMMARY

BLACKWELL N. SHELLEY, Bankruptcy Judge.

This proceeding involved whether relief from the automatic stay pursuant to § 362 of the Bankruptcy Code should be granted to a secured first mortgage lender in order to foreclose on a large parcel of real estate owned by Debtors in the business of selling and developing real estate. Section 362(d) allows for the granting of the relief from stay if either the debtor cannot provide adequate protection to...

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