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IN RE CALIFORNIA HANCOCK, INC.

Ref. No. M7-00595-LF, Bankruptcy No. LA 86-07904 LF, BAP NO. CC 87-1499 MoJV.

88 B.R. 226 (1988)

In re CALIFORNIA HANCOCK, INC., a California Corporation, Debtor. JOHN HANCOCK MUTUAL LIFE INSURANCE COMPANY, Appellee, v. CALIFORNIA HANCOCK, INC., a California Corporation, Appellant.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided June 21, 1988.

Attorney(s) appearing for the Case

Charles W. West, Gen. Counsel, Tatco Investments, Inc., Los Angeles, Cal., for appellant.

Bennett L. Silverman, Gibson, Dunn & Crutcher, Los Angeles, Cal., for appellee.

Before MOOREMAN, JONES and VOLINN, Bankruptcy Judges.

MOOREMAN, Bankruptcy Judge:

This appeal arises out of the bankruptcy court's order granting the appellee's motion for relief from the automatic stay, where the debtor had filed a Plan and Disclosure Statement just prior to the hearing.

FACTS

On February 25, 1977, the debtor corporation purchased from the appellee a 106 unit apartment complex which is located in Texas and the only asset in the estate. The debtor issued a non-recourse promissory note...

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