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IN RE LEVINE'S DELICATESSEN & RESTAURANT, INC.

Bankruptcy No. 80 B 12103.

53 B.R. 430 (1985)

In re LEVINE'S DELICATESSEN & RESTAURANT, INC., Debtor.

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

October 10, 1985.

Attorney(s) appearing for the Case

Siegel, Sommers & Schwartz, New York City by Paul Milbauer, New York City, for Bass & Bass, Inc.

Winston & Sherman, P.C., New York City by Howard L. Sherman, New York City, for Chemical Bank.

Robert Schindler, New York City, Trustee.

DECISION

HOWARD C. BUSCHMAN, III, Bankruptcy Judge.

Bass & Bass, Inc., seeks an order modifying the automatic stay pursuant to Section 362(d) of the Bankruptcy Code, 11 U.S.C. § 362(d) and allowing the foreclosure on the proceeds of collateral of an alleged purchase money security agreement between Bass and Levine's Delicatessen (the "debtor"). Chemical Bank cross moves to foreclose on the proceeds of the collateral. It and the Trustee oppose the...

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