In re Delco Oil Inc.

Ruling: 
Creditor entitled to relief from stay to pursue prepetition deposits in debtor's covert bank accounts.
Procedural posture: 
Debtor entered into a revolving credit and security agreement with creditor. The debtor pledged as collateral its collections, cash payments, and inventory. The agreement required the debtor to maintain its bank accounts with a specific bank. However, the debtor opened two secret bank accounts. The creditor moved for relief from stay to gain possession of the secret accounts. Chapter 7 trustee and others filed objections (objecting parties).
Issue: 
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