IN RE DUVAR APT., INC.

BAP No. CC-95-2002-JJaMe, Bankruptcy No. LA-95-31754 KM.

205 B.R. 196 (1996)

In re DUVAR APT., INC., Debtor. DUVAR APT., INC., Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Statutory Successor to the RTC Mortgage Trust 1994-N2 and the RTC as Receiver for State Street Bank and Trust Company, Appellee.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided October 21, 1996.


Attorney(s) appearing for the Case

Michael H. Lapidus, Los Angeles, CA, for Duvar Apt., Inc.

Lawrence H. Richmond, Federal Deposit Insurance Corporation, Legal Division, Los Angeles, CA, for F.D.I.C.

Before: JONES, JAROSLOVSKY, and MEYERS, Bankruptcy Judges.


OPINION

JONES, Bankruptcy Judge:

The debtor, Duvar Apt., Inc., appeals from an order of the bankruptcy court granting relief from the automatic stay. Immediately after the debtor filed for chapter 112 relief, creditor Amresco filed a motion for relief from the automatic stay in order to foreclose on the debtor's sole asset, an apartment building. The bankruptcy court granted relief from the stay on the basis that the bankruptcy...

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