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IN RE SPECTRUM INFORMATION TECHNOLOGIES, INC.

Bankruptcy Nos. 195-10690-260, 195-10692-260 and 195-10693-260.

183 B.R. 360 (1995)

In re SPECTRUM INFORMATION TECHNOLOGIES, INC., Dealer Services Business Systems, Inc., and Spectrum Cellular Corporation, Debtors.

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

June 22, 1995.

Attorney(s) appearing for the Case

Ohrenstein & Brown, by Warren E. Graham, New York City, for Home Ins. Co. of Illinois.

Cleary, Gottlieb, Steen & Hamilton, by Shari Siegel, New York City, for debtors.

Mayer Brown & Platt, by Raniero D'Aversa, New York City, for the Unsecured Creditors Committee of Spectrum.

DECISION ON MOTION BY HOME INSURANCE COMPANY OF ILLINOIS FOR RELIEF FROM AND MODIFICATION OF THE AUTOMATIC STAY

CONRAD B. DUBERSTEIN, Chief Judge.

This matter comes before the Court on the motion of Home Insurance Company of Illinois ("Home") for relief from and modification of the automatic stay pursuant to section 362(d) of the Bankruptcy Code1 to permit Home to rescind through arbitration a policy of insurance issued to the...

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