Opinion
Case No. A05-00974-DMD.
September 9, 2005
David D. Clark, LAW OFFICE OF DAVID D. CLARK, Anchorage, Alaska, Attorneys for Denali Alaskan Federal Credit Union.
ORDER GRANTING RELIEF FROM AUTOMATIC STAY
Denali Alaskan Federal Credit Union, creditor, moved pursuant to Section 362(d)(2) of the Bankruptcy Code for relief from the automatic stay. The court finds that there is no equity in the property for the debtor, the property is not necessary for an effective reorganization, and Denali Alaskan Federal Credit Union lacks adequate protection for its interest in the property.
Accordingly, it is hereby ORDERED as follows:
1. The automatic stay of 11 U.S.C. Section 362 which prohibits acts to create, perfect, or enforce against the property of the debtor any lien to the extent that such lien secures a claim that arose before the commencement of the case under this title, be and hereby is lifted as to the following collateral:
1998 JEEP GRAND CHEROKEE VIN # 1J4GZ58S8WC157414 and the creditor Denali Alaskan Federal Credit Union and/or its respective designees be and hereby are permitted to start, continue, and/or complete enforcement of its remedies according to the terms of its Security Agreement with debtor, its Promissory Note with debtor, and/or applicable Alaska law.