IN RE BALCO EQUITIES LTD., INC.

No. 04-35777 (CGM).

312 B.R. 734 (2004)

In re BALCO EQUITIES LTD., INC., Haddon Holdings Ltd., Sarah Enterprises International Ltd., Debtors.

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

July 9, 2004.


Attorney(s) appearing for the Case

Rachel L. Diehl, Joseph Lubertazzi, Jr., McCarter & English, LLP, Newark, NJ, Counsel for Hudson United Bank.

Andrew S. Wulfman, Cohen, Estis & Assocs., LLP, Goshen, NY, Counsel to the Debtors-in-Possession.


CECELIA MORRIS, Bankruptcy Judge.

Secured creditor Hudson United Bank ("Hudson") moved for relief from the automatic stay under Section 362(d)(1) and (2) in order to take possession of two vessels that serve as collateral for sums owing to Hudson: a yacht known as the Dauntless and a tug boat, Robust (ECF Docket Nos. 51, 91, 110 and 115; hereafter, the "Lift-Stay Motion"). After lengthy evidentiary hearings on May 18, 2004 and May 28, 2004...

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