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IN RE I. BURACK, INC.

Bankruptcy No. 91 B 20737.

132 B.R. 814 (1991)

In re I. BURACK, INC., Debtor.

United States Bankruptcy Court, S.D. New York.

October 16, 1991.

Attorney(s) appearing for the Case

Kronish, Lieb, Weiner & Hellman (Richard Lieb and Richard S. Rothberg, of counsel), New York City, for Estate of Robert H. Burack.

Marc Stuart Goldberg & Associates, P.C. (Neil M. Berger, of counsel), New York City, for I. Burack, Inc.

Platzer, Fineberg & Swergold (Steven D. Karlin and Clifford A. Katz, of counsel), New York City, for Committee of Unsecured Creditors.

DECISION ON MOTION FOR AN ORDER GRANTING RELIEF FROM THE AUTOMATIC STAY OR ABSTAINING

HOWARD SCHWARTZBERG, Bankruptcy Judge.

The parties in this relief from stay motion might be compared with the passengers on the Titanic fighting for deck chair locations. The Chapter 11 corporate debtor alleges that it is insolvent, whereas the plaintiff seeks stay relief under 11 U.S.C. § 362(d)(1) for cause in order to proceed in state court to obtain a valuation of...

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