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IN RE ROBERT E. DERECKTOR OF RHODE ISLAND, INC.

Bankruptcy No. 92-10015.

137 B.R. 95 (1992)

In re ROBERT E. DERECKTOR OF RHODE ISLAND, INC. d/b/a Derecktor Shipyard, Debtor.

United States Bankruptcy Court, D. Rhode Island.

February 11, 1992.

Attorney(s) appearing for the Case

Allan M. Shine, Winograd, Shine & Zacks, P.C., Providence, R.I., for debtor.

Charles L. Glerum, Choate, Hall & Stewart, Boston, Mass., for Federal Deposit Ins. Corp.

John Allen, Hinckley, Allen, Snyder & Comen, Providence, R.I., for R.I. Port Authority.

Richard M. Peirce, Roberts, Carroll, Feldstein & Peirce, Providence, R.I., for United Steel Workers.

Patricia Zesk, Edwards & Angell, Providence, R.I., for Ins. Co. of North America.

Stephanie Browne, Asst. U.S. Atty., Office of U.S. Atty., Providence, R.I., for U.S.

DECISION AND ORDER

ARTHUR N. VOTOLATO, Jr., Bankruptcy Judge.

Heard on February 10, 1992, on the final hearing on the Debtor's Motion for Authority to Use Cash Collateral. The Federal Deposit Insurance Company (FDIC) which has a security interest in the cash proposed to be used, objects, on the ground that its claim is not adequately secured.

FACTS

By stipulation of the parties, the following facts are established for purposes of this proceeding...

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