Bankr. No.:
91-50242
Chapter:
11
Date of Decision:
March 24, 1992
Issue:
Whether a creditor was entitled to relief from the automatic stay where debtor failed to pay post-petition taxes but where debtor argued the property was necessary for an effective reorganization.
Ruling:
The creditor was not entitled to relief for cause under § 362(d)(1) because debtor offered to pay post-petition taxes as adequate protection. The creditor was not entitled to relief under § 362(d)(2) because in the early stage of the case, debtor made a minimal showing that the property was necessary for reorganization.
Full Bankruptcy Court Decision:
