IN RE ACME MOTORS, INC.

Bankruptcy No. 860090.

68 B.R. 701 (1986)

In re ACME MOTORS, INC., Debtor.

United States Bankruptcy Court, D. Rhode Island.

December 29, 1986.


Attorney(s) appearing for the Case

Robert E. Davignon, McOsker, Isserlis & Davignon, Providence, R.I., for CIT Financial Services Corp.

William F. Hague, Jr., Dick & Hague, Ltd., Providence, R.I., for William Gabrilowitz and Irving Gabrilowitz.


ARTHUR N. VOTOLATO, Jr., Bankruptcy Judge.

Submitted on exhibits and memoranda, on the motion of CIT Financial Services Corp. (CIT) for relief from stay, and for a ruling that it has a perfected purchase money security interest in the proceeds from the sale of certain equipment of Acme Motors, the debtor. The motion is opposed by William Gabrilowitz and Irving Gabrilowitz, temporary operating officers and former principals of the debtor, who argue that CIT's security...

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