IN RE CARDINAL INDUSTRIES, INC.

Bankruptcy Nos. 2-89-02779, 2-89-02778, 2-89-07291, 2-89-07292, 2-90-01323, 2-90-02087, 2-90-02107, 2-90-02675, 2-90-02747, 2-90-02940, 2-90-03091, 2-90-03244 and 2-90-03245.

116 B.R. 964 (1990)

In re CARDINAL INDUSTRIES, INC., Jointly Administered with Cardinal Industries of Florida, Inc., Cardinal Partner Corporation, Cardinal Partnership Corporation, Cardinal Industries of Georgia, Inc., Cardinal Industries Services Corporation, Cardinal Industries Mortgage Company, Cardinal Parts Service Co., Cardinal Lodging Group, Inc., Cardinal Apartment Management Group, Inc., Cardinal Industries Development Corp., Cardinal Industries of Florida Services Corp., Cardinal Industries of Georgia Services Corp., Debtors.

United States Bankruptcy Court, S.D. Ohio, E.D.

May 14, 1990.


Attorney(s) appearing for the Case

Daniel R. Swetnam, Mark E. McGrady, Joanne F. Weber, Schwartz, Kelm, Warren & Rubenstein, Columbus, Ohio, for movants.

Jay Alix, Southfield, Mich., Chapter 11 Trustee.

Michael L. Cook, Sally M. Henry, Skadden, Arps, Slate, Meagher & Flom, New York City, Gen. Counsel, Marilyn Shea-Stonum, Jones, Day, Reavis & Pogue, Columbus, Ohio, Sp. Counsel, to trustee.

Charles M. Caldwell, Asst. U.S. Trustee, Columbus, Ohio, Columbus Office of the U.S. Trustee for Region IX.

Lori Lapin Jones, Dewey, Ballantine, Bushby, Palmer & Wood, New York City, and Leon Friedberg, Benesch, Friedlander, Coplan & Aronoff, Columbus, Ohio, for the Official Committee of Unsecured Creditors of Cardinal Industries, Inc.

P. Steven Kratsch, Kilpatrick & Cody, Atlanta, Ga., for the Official Committee of Unsecured Creditors of Cardinal Industries of Florida, Inc.

Harvey S. Minton, Minton & Leslie, Columbus, Ohio, Counsel for Cardinal Industries of Georgia, Inc., Cardinal Industries Mortg. Co. and Cardinal Parts Service Co.

Charles J. Taunt, Birmingham, Mich., for Cardinal Industries Services Corporation, Cardinal Industries of Florida Services Corp. and Cardinal Industries of Georgia Services Corp.

Thomas R. Noland, Altick & Corwin, Dayton, Ohio, for Cardinal Partnership Corp. and Cardinal Partner Corp.

Gary H. Cunningham, Schlussel, Lifton, Simon, Rands, Galvin & Jackier, Southfield, Mich., for Cardinal Lodging Group, Inc., and Cardinal Apartment Management Group, Inc.


OPINION AND ORDER ON MOTION OF GIFFIN MANAGEMENT GROUP, INC., ET AL., AGAINST CARDINAL INDUSTRIES, INC. FOR RELIEF FROM THE AUTOMATIC STAY

BARBARA J. SELLERS, Bankruptcy Judge.

This matter is before the Court upon the motion filed by Giffin Management Group, Inc. ("Giffin") and numerous named individuals and other entities (collectively the "Movants") seeking relief from the automatic stay imposed by 11 U.S.C. § 362(a). The Movants are limited partners...

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