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IN RE GENERAL HOLDING CORP.

Bankruptcy No. 94-13718-260.

171 B.R. 177 (1994)

In re GENERAL HOLDING CORPORATION, Debtor.

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

August 23, 1994.

Attorney(s) appearing for the Case

Shaw, Licitra, Parente, Esernio & Schwartz, P.C. by Bradley Max, Garden City, NY, for debtor.

Sullivan & Cromwell by William L. Farris and Weil, Gotshal & Manges by Marvin E. Jacob, New York City, for Gen. Elec. Capital Corp.

Ganz, Hollinger & Towe by Jerrietta Hollinger, New York City, for Resolution Trust Corp.

Douglas Spelfogel, Office of U.S. Trustee, Garden City, NY.

OPINION

CONRAD B. DUBERSTEIN, Chief Judge.

This opinion is rendered for the purpose of providing the District Court the basis of this Court's oral bench decision of August 3, 1994 which granted motions for relief from the automatic stay provided for by Section 362 of the Bankruptcy Code brought on by secured mortgage lien creditors General Electric Capital Corporation ("GECC") and the Resolution Trust Corporation as Receiver of State Savings, F.A...

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