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IN RE INCOME PROPERTY BUILDERS, INC.

No. 80-5844.

699 F.2d 963 (1982)

In re INCOME PROPERTY BUILDERS, INC., Debtor. ARMEL LAMINATES, INC., Appellant, v. The LOMAS & NETTLETON COMPANY, Appellee.

United States Court of Appeals, Ninth Circuit.

Decided August 23, 1982.

Rehearing Denied January 24, 1983.

Attorney(s) appearing for the Case

Jack Warner, Warner & McCauley, Phoenix, Ariz., for appellant.

Richard Lee, Murphy & Posner, Phoenix, Ariz., for appellee.

Before GOODWIN and BOOCHEVER, Circuit Judges, and SMITH, District Judge.

PER CURIAM:

Income Property Builders, Inc. (debtor), owner of a condominium, filed a Chapter 11 proceeding in the Arizona Bankruptcy Court, 8 B.R. 304, on January 9, 1980. On January 18, 1980, Lomas & Nettleton Co. (L & N), which owned a trust deed on the condominium, filed an adversary proceeding1 seeking to set aside the automatic stay mandated by 11 U...

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