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IN RE KORS, INC.

Bankruptcy No. 80-255, Adv. No. 81-0004.

11 B.R. 324 (1981)

In re KORS, INC., Debtor. REXTRUSION SYSTEMS, INC., Plaintiff, v. KORS, INC., Defendant.

United States Bankruptcy Court, D. Vermont.

May 20, 1981.

Attorney(s) appearing for the Case

John Faignant, Rutland, Vt., Arthur J. Homans, Gen. Counsel, New York City, for Rextrusion Systems, Inc.

Paul Kulig, Rutland, Vt., for debtor.

Bernard R. Dick, Rutland, Vt., and William C. Dagger, Lancaster, Ohio, for Howard Bank.

Alan R. Medor, Rutland, Va., for RDIC.

Charles H. Gibbs, Jr., Charleston, S.C., and Dennis I. Greene, Boston, Mass., for First National Bank of Boston.

Andrew R. Field, Montpelier, Vt., for SBIC.

MEMORANDUM AND ORDER

CHARLES J. MARRO, Bankruptcy Judge.

This is an adversary proceeding in which Rextrusion Systems, Inc., formerly known as Reifenhauser U.S. Sales Corp., is seeking relief from the automatic stay, or in the alternative, for adequate protection of its security interest in one Intermat Bottom Seal Bag Machine, serial number 107952.

FACTS:

Rextrusion sold the machine to the Debtor in May of 1980 for the sum of $120,000.00...

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