MATTER OF GLAUBINGER MACHINERY CO., INC.

Bankruptcy No. 84-02971.

58 B.R. 38 (1986)

In the Matter of GLAUBINGER MACHINERY CO., INC., Debtor.

United States Bankruptcy Court, D. New Jersey.

January 23, 1986.


Attorney(s) appearing for the Case

Ravin, Greenberg & Zackin, P.A. by Gary N. Marks, Roseland, N.J., for debtor.

Tai Cho, New York City, for Daewoo Intern.


OPINION

DeVITO, Bankruptcy Judge.

The above captioned debtor moves to reclassify a secured claim filed by Daewoo International (America) Corporation ("Daewoo") to the status of a general unsecured claim. For the reasons set forth below, this Court grants the within motion.

The facts of the case are relatively straightforward. Daewoo possessed a perfected security interest in certain milling machines held by the debtor on consignment. One machine...

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