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IN RE OCEAN STATE OPTICAL CO., INC.

Bankruptcy No. 82-00444, Adv. No. 82-0227.

22 B.R. 893 (1982)

In re OCEAN STATE OPTICAL CO., INC., Debtor. RHODE ISLAND HOSPITAL TRUST NATIONAL BANK, Plaintiff, v. OCEAN STATE OPTICAL CO., INC., Defendant.

United States Bankruptcy Court, D. Rhode Island.

September 7, 1982.

Attorney(s) appearing for the Case

James L. Taft, Jr., Taft, McSally & McKenna, Providence, R.I., for plaintiff.

Abraham Belilove, Arcaro, Belilove & Kolodney, Providence, R.I., for defendant.

DECISION

ARTHUR N. VOTOLATO, Jr., Bankruptcy Judge.

Heard on June 11, 1982, on Rhode Island Hospital Trust National Bank's complaint for relief from the automatic stay and for leave to sell collateral.

Ocean State Optical Co., Inc. operates a wholesale mail order business, selling plastic and metal eyeglass frames to opticians and optometrists throughout the country. On January 10, 1979, Ocean State entered into a loan agreement with the Bank, and...

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