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IN RE CORONET CAPITAL CO.

Bankruptcy No. 90 B 13646.

142 B.R. 78 (1992)

In re CORONET CAPITAL COMPANY, Debtor.

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

June 11, 1992.

Attorney(s) appearing for the Case

J.S. Reich, M.S. Indelicato, Hahn & Hessen, New York City, for Trustee ("Trustee").

L. Biancone, New York City, for JIB Associates ("JIB").

S. Komrower, Cole, Scholtz, Bernstein, Meisel & Forman, P.A., Hackensack, N.J., for JIB.

MEMORANDUM OF DECISION ON RELIEF FROM STAY

FRANCIS G. CONRAD, Bankruptcy Judge.*

JIB's Motion for Relief from Stay requires1 us to determine whether an alleged participation agreement is a true participation transaction or a disguised loan. We hold the alleged loan participation agreement is in fact a disguised loan, and relief from stay will be denied.

PROCEDURAL BACKGROUND

Coronet...

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