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IN RE COLUMBIA RIBBON & CARBON MFG. CO., INC.

Bankruptcy No. 80 B 10040, Adv. No. 81-5232-A.

13 B.R. 276 (1981)

In re COLUMBIA RIBBON AND CARBON MANUFACTURING CO., INC., Debtor, MANCHEM, INC., Plaintiff, v. Ira S. GREENE, Trustee and Chemical Bank, Defendants.

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

August 11, 1981.

Attorney(s) appearing for the Case

Kaye, Scholer, Fierman, Hayes & Handler, New York City, for Chemical Bank.

Durand, Gorman, Heher, Imbriaco & Lynes, Princeton, N.J., for Manchem, Inc.

MEMORANDUM AND ORDER

JOHN J. GALGAY, Bankruptcy Judge.

The issue presented to the Court for resolution is whether plaintiff, Manchem, Inc., (Manchem) is entitled to relief from the stay imposed by Section 362 of the Bankruptcy Code, 11 U.S.C. § 362(a)(3). This Court, after a review of the facts of this case and the applicable law, concludes, that the stay should be modified to permit Manchem to pursue its remedies under 2-507(2) of the Uniform Commercial...

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