IN RE MATTER OF SEARS
IN THE MATTER OF: ROBERT A. SEARS, Ch. 11, Debtor.
IN THE MATTER OF: KORLEY B. SEARS, Ch. 11, Debtor.
Case Nos. BK10-40275-TLS, BK10-40277-TLS
United States Bankruptcy Court, D. Nebraska.
ORDER
THOMAS L. SALADINO, Chief Judge
Hearing was held in Omaha, Nebraska, on April 8, 2010, on motions for relief from stay filed by Ron H. Sears Trust, Rhett R. Sears Revocable Trust, Dane Sears, Rhett Sears, and Ronald Sears (Fil. #21 in BK10-40275; Fil. # 33 in BK10-40277); objections/resistances filed by Debtors (Fil. #37 in BK10-40275; Fil. # 50 in BK10-40277); motions to approve corporate voting process filed by Ron H. Sears Trust, Rhett R. Sears Revocable Trust, Dane Sears, Rhett Sears, and Ronald Sears (Fil. #24 in BK10-40275; Fil. # 36 in BK10-40277); and objections/resistances filed by Debtors (Fil. #36 in BK10-40275; Fil. # 49 in BK10-40277). Jerrold L. Strasheim appeared for Debtors; Donald Swanson and Brian Koenig appeared for Ron H. Sears Trust, Rhett R. Sears Revocable Trust, Dane Sears, Rhett Sears, and Ronald Sears; Jeff Galyen appeared for Waldo Realty; Richard D. Myers appeared for Commercial National Bank of Ainsworth; and T. Randall Wright appeared for Farm Credit Services. This Order will be filed in both bankruptcy cases.
Rhett, Ronald, and Robert are brothers. Dane is the son of Ronald. Korley is the son of Robert, and Kelli is Robert’s daughter. Because the last name of “Sears” is common to all of the parties involved in these motions, the moving parties will be referred to as the “Sears Creditors.” Korley Sears will be referred to as “Korley,” and Robert Sears will be referred to as “Robert.” Other members of the Sears family will also be referred to by their first names.
For the reasons discussed below, the motions for relief from stay are granted. The motions to approve corporate voting process are denied.
Factual Background
The following facts have been established by the evidence.
1. On or about June 22, 2007, Korley purchased from the Sears Creditors[ 1