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  5. 217 B.R. 422 (1998)
 

IN RE PACKAGE DESIGN & SUPPLY CO., INC.

Bankruptcy No. 97-13840 K.

217 B.R. 422 (1998)

In re PACKAGE DESIGN & SUPPLY CO., INC., Debtor.

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

February 12, 1998.

Attorney(s) appearing for the Case

Daniel J. Hartman, Pack, Hartman, Ball, Brody & Kinney, P.C., Buffalo, NY, for Citibank.

Terry C. Burton, Cheektowaga, NY, for Debtor.

William P. Keefer, Albrecht, Maguire, Heffern & Gregg, P.C., Buffalo, NY, for Philpac Corp.

MICHAEL J. KAPLAN, Bankruptcy Judge.

This matter is before the Court on Citibank's motion to approve a cash collateral agreement giving Citibank a lien on postpetition accounts and inventory. The motion squarely presents the question of how 11 U.S.C. § 552 may result in a secured lender's loss of lien if action is not taken promptly in bankruptcy court after the filing of a Chapter 11 petition.

The Debtor in this case has been operating as a Chapter 11...

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