IN RE BARAKAT

Bankruptcy No. LA 93-47514-GM. Ref. No. LA 93-02964-GM.

173 B.R. 672 (1994)

In re Mohammed S. BARAKAT, Debtor and Debtor-in-Possession. The LIFE INSURANCE COMPANY OF VIRGINIA, Movant, v. Mohammed S. BARAKAT, Respondent.

United States Bankruptcy Court, C.D. California.

September 26, 1994.


Attorney(s) appearing for the Case

Jeffrey I. Golden and Jennifer Ann Golison, Buchalter, Nemer, Fields & Younger, Newport Beach, CA, for Life Ins. of Virginia.

Mark T. Young and Marc A. Lieberman, Mayer, Glassman & Gaines, Los Angeles, CA, for debtor Mohammed Samih Barakat.


MEMORANDUM OF OPINION ON MOTIONS FOR CONDITIONAL APPROVAL OF DISCLOSURE STATEMENT AND FOR RELIEF FROM THE AUTOMATIC STAY

GERALDINE MUND, Bankruptcy Judge.

Mohammed S. Barakat filed bankruptcy on October 22, 1993, principally to protect his apartment building from foreclosure by Life Insurance of Virginia ("LIV"), which is an undersecured creditor. The LIV note, made by the debtor and four relatives, was all due on September 1, 1989; however, it...

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