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IN RE RAMCO WELL SERVICE, INC.

Bankruptcy Nos. BK-83-00529-A, BK-83-00605-A, Adv. Nos. 83-0455, 83-0454.

32 B.R. 525 (1983)

In re RAMCO WELL SERVICE, INC., Debtor. The CHASE MANHATTAN BANK, N.A., Plaintiff, v. RAMCO WELL SERVICE, INC., Defendant. In re RAMCO EQUIPMENT, LTD., INC., Debtor. The CHASE MANHATTAN BANK, N.A., Plaintiff, v. RAMCO EQUIPMENT, LTD., 1981-1, Defendant.

United States Bankruptcy Court, W.D. Oklahoma.

August 11, 1983.

Attorney(s) appearing for the Case

Charles A. Grissom, Jr. of Boesche, McDermott & Eskridge, Tulsa, Okl. for plaintiff, The Chase Manhattan Bank, N.A.

David Kline and Stephen W. Elliott of Kline & Kline, Oklahoma City, Okl., for debtor-defendant Ramco Well Service, Inc.

Paul Tobin of Cohen & Pluess, Oklahoma City, Okl. for debtor-defendant, Ramco Equipment Ltd., 1981-1.

MEMORANDUM OF DECISION

RICHARD L. BOHANON, Bankruptcy Judge.

Chase Manhattan Bank, N.A. participated in loans to defendants Ramco with the defunct Penn Square Bank, N.A. of Oklahoma City. The funds, approximately $7.3 million, were used to purchase 14 oil and gas well workover rigs and associated equipment. Ramco1 has filed its petitions under Chapter 11 and Chase as assignee of the notes and security instruments seeks to terminate...

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