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IN RE BEN FRANKLIN RETAIL STORE, INC.

Bankruptcy Nos. 96 B 19482, 96 B 19483, 96 B 19489, 96 B 19494 and 96 B 19497.

202 B.R. 955 (1996)

In re BEN FRANKLIN RETAIL STORE, INC., et al., Debtors.

United States Bankruptcy Court, N.D. Illinois, Eastern Division.

November 27, 1996.

Attorney(s) appearing for the Case

Terrence J. Madden of Rooks, Pitts & Poust, Chicago, IL, for LaSalle National Bank.

Allan S. Brilliant of Holleb & Coff, Chicago, IL, for Debtor.

Steve Garcia of Hopkins & Sutter, for Unsecured Creditor's Committee.

Michael K. Desmond, Chicago, IL, for U.S. Trustee.

Edan Segal, New York City (New York Counsel).

MEMORANDUM OPINION

RONALD BARLIANT, Bankruptcy Judge.

This matter is before this Court on the Motion of LaSalle National Bank ("LaSalle") to modify the automatic stay to allow it to exercise its right of setoff against three accounts of the debtor, including a $1 million certificate of deposit account ("Motion"). On October, 16, 1996, by an oral ruling, this Court denied the Motion to the extent it requested relief from the stay to set off amounts due the...

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