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IN RE CAN-ALTA PROPERTIES, LTD.

BAP No. AZ-87-2235 JAsV, Bankruptcy No. B-87-3421-PHX-SSC, Adv. No. "A".

87 B.R. 89 (1988)

In re CAN-ALTA PROPERTIES, LTD., Debtor. CAN-ALTA PROPERTIES, LTD., Appellant, v. STATE SAVINGS MORTGAGE COMPANY, an Ohio Corporation, Appellee.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided July 6, 1988.

Attorney(s) appearing for the Case

Charles W. Lowe, Davis & Lowe, P.C., Phoenix, Ariz., for appellant.

James B. Ball, Phoenix, Ariz., for appellee.

Before JONES, ASHLAND and VOLINN, Bankruptcy Judges.

OPINION

The Debtor appeals a bankruptcy court order lifting the automatic stay based upon a finding of bad faith. We REVERSE.

FACTS

On June 8, 1987, the Debtor, Can-Alta Properties, Ltd., filed a petition for relief under Chapter 11 of the Bankruptcy Code. The petition stayed a foreclosure sale scheduled for the same date by the Appellee, State Savings Mortgage Co. ("State Savings"). State Savings was the beneficiary of a deed of trust on real...

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