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IN RE KARACHI CAB CORP.

Bankruptcy No. 80 B 11878 (EJR), Adv. No. 81-5302-A.

21 B.R. 822 (1982)

In re KARACHI CAB CORP., Debtor. Albert TOGUT, as Chapter 7 Trustee for Karachi Cab Corp., Plaintiff, v. Ruth WAPNICK, Defendant.

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

July 14, 1982.

Attorney(s) appearing for the Case

Albert Togut, New York City, pro se, and as trustee in bankruptcy for Karachi Cab Corp., plaintiff.

Harold Wapnick, Ruth Wapnick, pro se.

EDWARD J. RYAN, Bankruptcy Judge.

Karachi Cab Corp. ("Karachi") prior to instituting arrangement proceedings under Chapter 11 of the Bankruptcy Code, 11 U.S.C. § 1101, et seq., executed a security agreement on August 1, 1979, with Ruth Wapnick ("Wapnick") to secure the payment of a loan made by Wapnick to the debtor. Wapnick lent the sum of $5,800 to the debtor, of which $1,540 has been repaid, leaving an unpaid principal...

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