IN RE WEISBERG

BAP No. CC-94-1258-VJO. Bankruptcy No. LA 91-10097-BR. Adv. No. LA 93-01419-BR.

193 B.R. 916 (1996)

In re Herbert Herman WEISBERG and Delphine Ruth Weisberg, Debtors. Edward M. WOLKOWITZ and David R. Weinstein, Appellants, v. SHEARSON LEHMAN BROTHERS, INC., Appellee.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided March 14, 1996.


Attorney(s) appearing for the Case

David R. Weinstein, Los Angeles, CA, for appellants.

Jeffrey D. Warren, Long Beach, CA, in pro. per.

Before: VOLINN, JONES, and OLLASON, Bankruptcy Judges.


OPINION

VOLINN, Bankruptcy Judge:

OVERVIEW

The debtor borrowed $50,000 from a stockbroker and provided collateral in the form of stock which was deposited in a margin account. After the debtor filed bankruptcy, as the stock decreased in value, the stockbroker at intervals, issued margin calls, and, on failure of the debtor or trustee to respond, liquidated portions of the stock without first seeking relief from the automatic stay of 11 U...

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