IN RE ORVCO, INC.

BAP No. WW-87-1984 JAsMo, Bankruptcy No. 87-03895.

95 B.R. 724 (1989)

In re ORVCO, INC., Debtor. GREAT WESTERN SAVINGS BANK, Appellant, v. ORVCO, INC., Appellee.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided February 22, 1989.


Attorney(s) appearing for the Case

John D. Reagh III, Seattle, Wash., for appellant.

Gloria Nagler, Woodley & Thurston, Kirkland, Wash., for appellee.

Before JONES, ASHLAND and MOOREMAN, Bankruptcy Judges.


OPINION

JONES, Bankruptcy Judge:

FACTS

On February 28, 1985, Orville and Victoria Cohen ("the Cohens") executed a promissory note in the amount of $809,000 in favor of the Appellant, Great Western Savings Bank ("Great Western"). The note is secured by a deed of trust on real property located in Seattle, Washington, known as the Century Building. As additional security for the loan, the Cohens granted Great Western an assignment of rents. The assignment...

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