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IN RE SYNERGY DEVELOPMENT CORP.

Bankruptcy No. 91 B 22004.

140 B.R. 958 (1992)

In re SYNERGY DEVELOPMENT CORP., Debtor.

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

June 8, 1992.

Attorney(s) appearing for the Case

Robert Abrams, Atty. Gen. of the State of N.Y. and G. Nicholas Garin, Asst. Atty. Gen., Poughkeepsie, N.Y., for State of N.Y.

Lichtenstein & Schindel, Mamaroneck, N.Y., for debtor.

HOWARD SCHWARTZBERG, Bankruptcy Judge.

The State of New York (the "State") has presented the debtor, Synergy Development Corporation ("Synergy"), with a Hobson's Choice. The State has moved to have this court declare that the automatic stay does not apply pursuant to 11 U.S.C. § 362(b)(4) or, in the alternative, for relief from the automatic stay to enforce in a state court the terms of a prepetition stipulation into which the debtor entered with the State. The...

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