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IN RE PINE LAKE VILLAGE APARTMENT CO.

Bankruptcy No. 81 B 20737, Adv. No. 82 6001.

19 B.R. 819 (1982)

In re PINE LAKE VILLAGE APARTMENT CO., Debtor.

United States Bankruptcy Court, S.D. New York.

April 23, 1982.

Attorney(s) appearing for the Case

Burns & Fox, New York City, for debtor.

Zalkin, Rodin & Goodman, New York City, for Thomas J. Hartigan; Andrew D. Gottfried, New York City, of counsel.

HOWARD SCHWARTZBERG, Bankruptcy Judge.

The debtor in this Chapter 11 case, a limited partnership owning a multi-apartment house complex, opposes its mortgagee's request for relief from the automatic stay imposed under 11 U.S.C. § 362. The debtor concedes that it has no equity in the apartment house complex, which is its sole asset, since the mortgage principal amounts to $10,400,000, exclusive of interest, whereas the uncontradicted value of the property is approximately...

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