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IN RE CAMBRIDGE BIOTECH CORP.

Bankruptcy No. 94-43054-JFQ.

178 B.R. 34 (1995)

In re CAMBRIDGE BIOTECH CORPORATION, Debtor.

United States Bankruptcy Court, D. Massachusetts.

March 1, 1995.

Attorney(s) appearing for the Case

Kevin McGee, Seder & Chandler, Worcester, MA, for Official Unsecured Creditors' Committee.

Edward Bertozzi, Jr., Edwards & Angell, Providence, RI, for Fleet Credit Corp.

Joseph F. Ryan, Brown, Rudnick, Freed & Gesmer, Boston, MA, for Cambridge Biotech Corp.

OPINION

JAMES F. QUEENAN, Jr., Bankruptcy Judge.

Fleet Credit Corporation (the "Creditor") moves for approval of its agreement with Cambridge Biotech Corporation (the "Debtor") granting it relief from the automatic stay with respect to bank accounts which the Debtor assigned to it as security for its loan obligation. The Official Unsecured Creditor's Committee (the "Committee") objects to the motion, asserting the Creditor has not perfected its security...

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