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IN RE SMITHFIELD ESTATES, INC.

Bankruptcy No. 8300715.

48 B.R. 910 (1985)

In re SMITHFIELD ESTATES, INC., Debtor. UNITED STATES of America, Plaintiff, v. SMITHFIELD ESTATES, INC., Defendant.

United States Bankruptcy Court, D. Rhode Island.

April 12, 1985.

Attorney(s) appearing for the Case

Frank Licht, Robert N. Huseby, Sr., Letts, Quinn & Licht, P.C., Lauren E. Jones, Jones & Aisenberg, Providence, R.I., for debtor.

Charles L. Schlumberger, Dept. of Justice, Civ.Div., Washington, D.C., for plaintiff.

Matthew J. McGowan, Boston, Mass., Trustee.

DECISION DENYING MOTION FOR RELIEF FROM AUTOMATIC STAY

ARTHUR N. VOTOLATO, Jr., Bankruptcy Judge.

Heard on the motion of the U.S. Department of Housing & Urban Development (HUD), for relief from the automatic stay, 11 U.S.C. § 362(d), and for leave to foreclose its mortgage on the debtor's real estate. HUD maintains that the debtor-in-possession (Smithfield Estates, Inc., hereinafter, debtor) has no equity in the mortgaged property; that the property...

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