In re 4th Street East Investors, Inc.

MEMORANDUM DECISION GRANTING IN REM RELIEF FROM THE AUTOMATIC STAY

A hearing was held at the above-referenced time and place on the motion of Ocean II, LLC (the “Movant”) for relief from the automatic stay (dkt. 95) (the “Motion”) and other papers filed in relation thereto (dkt. 116 and 127). Appearances were as noted on the record.

Based on (i) the foregoing papers, (ii) the bankruptcy schedules (“Schedules”) and Statement Of Financial Affairs (“SOFA”) (dkt. 1) filed by the above captioned debtor(s) (“Debtor”), (iii) the proof of service included in the Motion papers showing service on the owner/borrower listed in the loan documents (the “Owner”), and (iv) the other documents and records in this case and the arguments and evidence presented at the hearing, I make the following findings of fact and conclusions of law.

A. Findings of Fact

This case matches the profile of certain other cases that have come before the Court:

(1) In violation of the loan documents, an interest in the subject property purportedly was transferred to Debtor.

(2) Movant has presented sufficient evidence, including the following, to establish that the purported transfer was part of a “scheme” to…