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IN RE FOUR SEAS CENTER, LTD.

No. 83-2382.

754 F.2d 1416 (1985)

In re FOUR SEAS CENTER, LTD., a limited partnership, Debtor. FOUR SEAS CENTER, LTD., Debtor-Appellee, v. DAVRES, INC., Secured Creditor-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided March 4, 1985.

Attorney(s) appearing for the Case

Vernon D. Stokes, Stokes & Welch, San Francisco, Cal., for debtor-appellee.

Alan D. Croll, Michael J. O'Connor, Wyman, Bautzer, Rothman, Kuchel & Silbert, Los Angeles, Cal., for secured creditor-appellant.

Before ALARCON and CANBY, Circuit Judges, and STEPHENS, District Judge.

STEPHENS, District Judge:

Four Seas Center, Ltd. (the debtor) filed a Chapter 11 petition in bankruptcy on November 17, 1982. The debtor's only significant asset was a five-story commercial building in Burlingame, California. At the time of filing bankruptcy, the building was subject to several deeds of trust, including a first deed of trust in favor of New York Life Insurance Company for approximately $2.4 million, and...

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