JAMES MARLAR, Bankruptcy Judge
The court conducted an emergency hearing on June 4, 2008 regarding the Debtor's motion to approve use of cash collateral (Dkt. #174), at which time the court took the matter under advisement.
As matters turned out, it seems as if the cash is no party's "collateral," but that the cash on deposit is a general asset.
Mr. and Mrs. Stonich's Schedules I and J reflect that their monthly income is $3,300 from Mrs. Stonich's employment, and their monthly expenses are $13,184. As a real estate broker, Mr. Stonich does not have regular monthly income or wages, but instead generates income through property sales or commissions.
Wells Fargo Bank Debtor-in-Possession Account number 3496118112 is subject to court control (the "Segregated DIP Account").
The court will authorize the Debtors to withdraw $15,000 per month for June and July, 2008, from the Segregated DIP Account. With Mrs. Stonich's monthly wages, the Debtors will then have monthly income of $18,300 for two months, until they can confirm their chapter 11 plan of reorganization. If the Debtors require more funds from the account, they are to file a request with the court, and include with it a detailed breakdown of the additional amounts requested, and notice out an expedited hearing date to all interested parties.
This arrangement may serve as a temporary stopgap for the Debtors' immediate cash needs.
A separate order will be entered.