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IN RE ATLANTIC COMPUTER SYSTEMS INC.

Bankruptcy No. 90-12117.

135 B.R. 463 (1992)

In re ATLANTIC COMPUTER SYSTEMS INC., Debtor.

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

January 13, 1992.

Attorney(s) appearing for the Case

Davis Polk & Wardwell by Philip C. Potter, Jr., Maryellen E. Abely, New York City, for debtor.

Weil Gotshal & Manges by Judy G.Z. Liu, New York City, for Creditors Committee.

Zalkin, Rodin & Goodman by Andrew Gottfried, Jay Teitelbaum, New York City, for IBM.

Hahn Loeser & Parks by Alan S. Kopit, Cleveland, Ohio, for CIT Group.

MEMORANDUM DECISION ON SUMMARY JUDGMENT MOTION OF IBM FOR RELIEF FROM THE AUTOMATIC STAY

BURTON R. LIFLAND, Chief Judge.

BACKGROUND

The Motion before the Court concerns numerous transactions involving computer and related equipment ("Equipment") manufactured by International Business Machines, Inc. ("IBM"), owned by Atlantic Computer Systems, Inc. ("Atlantic" or "Debtor"), and leased to various third parties. Each of the transactions followed a similar...

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