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IN RE SAYPOL

Bankruptcy No. 83 B 10391(HCB), Adv. Nos. 85-5487A, 83-5609A.

31 B.R. 796 (1983)

In re Ronald D. SAYPOL, Debtor. BARCLAYS BANK OF NEW YORK, N.A., Plaintiff, v. Ronald D. SAYPOL, Defendant. MARINE MIDLAND BANK, N.A., Plaintiff, v. Ronald D. SAYPOL, Defendant.

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

July 5, 1983.

Attorney(s) appearing for the Case

Hawkins, Delafield & Wood, New York City, for plaintiff Barclays Bank of New York, N.A.; Robert M. McCulloch Jr., and Thatcher A. Stone, New York City, of counsel.

Walsh & Frisch, New York City, for plaintiff Marine Midland Bank, N.A.; Jerome K. Walsh, New York City, of counsel.

Chester B. Salomon, P.C., New York City, for debtor; Chester B. Salomon, P.C., and Alec P. Ostrow, New York City, of counsel.

DECISION ON PROCEEDINGS TO VACATE AUTOMATIC STAY

HOWARD C. BUSCHMAN, III, Bankruptcy Judge.

Marine Midland Bank, N.A. ("Marine") and Barclays Bank of New York, N.A. ("Barclays") seek a modification of the automatic stay codified in 11 U.S.C. § 362(a) so that they may foreclose on perfected security interests they hold in property of the debtor, Ronald D. Saypol.

I

Ronald D. Saypol was Chairman and Chief Executive Officer of the Lionel...

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