Automatic Stay

News & Analysis as of

Lease Termination: Do You Really Mean It?

A commercial landlord sought relief from the automatic stay so that it could complete prepetition eviction proceedings against the debtor. The debtor objected, arguing that it had a right to assume the lease. The case turned...more

Sistem Mühendislik A.S. v. Kyrgyz Republic: Ontario Court of Appeal Conditionally Stays Order Declaring Equitable Interest

The August 7, 2014 decision of the Ontario Court of Appeal in Sistem Mühendislik A.S. v. Kyrgyz Republic illustrates that an automatic stay pending appeal of an “order for the payment of money” is only triggered if the order...more

Bankruptcy Appellate Panel Holds That Contempt Proceedings Filed Against Debtor Were Not Subject To Automatic Stay

In In re Dingley (August 6, 2014) --- B.R. ----, 9th Cir.BAP (Nev.), the Ninth Circuit Bankruptcy Appellate Panel ("BAP") held that a creditor did not violate an automatic stay for maintaining a contempt proceeding against a...more

Bankruptcy Beat: Connecticut District Court Suggests Automatic Stay May Apply To Non-debtor Junior Lienholders In Foreclosure...

On July 22, 2014, the Connecticut District Court issued an opinion, Eastern Savings Bank FSB v. St. Germain, et al, 2014 WL 3687740 (D. Conn. 2014), which could impact the applicability of the automatic stay of 11 U.S.C....more

Some Days, A Stay Is Easier to Obtain Than Others

In A&F Enterprises v. IHOP Franchising LLC, 742 F.3d 764 (Seventh Cir. 2014), Chapter 11 debtors appealed a determination that their building leases were deemed rejected because they were not timely assumed. Both the...more

Spotlight on Bankruptcy: Basic Bankruptcy for Mortgage Litigators

Mortgage litigators often face a variety of bankruptcy issues. There are three main chapters of bankruptcy that affect the average mortgage litigator: Chapter 7, Chapter 13 and Chapter 11. Upon the filing of Chapter 7,...more

Eleventh Circuit Rules Post-Confirmation Settlement Proceeds are Property of Chapter 13 Estate

A recent case out of the Eleventh Circuit Court of Appeals (the “Court”) concluded that proceeds stemming from a post-confirmation settlement agreement between a chapter 13 debtor and its mortgagor related to a violation of...more

Applicability of the Automatic Stay to Serial Chapter 13 Petition Filers

Ordinarily, when a debtor files a chapter 13 bankruptcy petition, the automatic stay is triggered immediately. The stay prohibits lenders from pursuing any claim against the debtor unless they seek and are provided relief...more

Bankruptcy Trustee’s Action For Crop Reinsurance Proceeds Is Time-Barred

A federal district court has held that a bankruptcy trustee’s action to compel payment of crop insurance proceeds is time-barred by virtue of the Federal Crop Insurance Act (FCIA) and the insurance policies’ arbitration...more

Effect of Automatic Stay in Quasi-Criminal Proceedings

The automatic stay of § 362(a) of the Bankruptcy Code is one of a debtor’s most powerful tools and protections, because it stays all proceedings and collection efforts. Under § 362(b), however, a debtor may not use the...more

Bankruptcy Beat: Luck of the Irish Cannot Save Debtor’s Bankruptcy Appeal of Order Granting Relief from the Stay

The importance of obtaining a stay pending appeal of a bankruptcy court order lifting the automatic stay was recently illustrated in Dunne v. Ulster Bank (In re Dunne), 13 cv 00996-JBA (Mar. 11, 2014). In the Dunne case,...more

Connecticut District Court and Bankruptcy Court Differ on Extent to Which the Automatic Stay Automatically Terminates Upon Second...

Under §362(c)(3)(A), when a debtor files a second bankruptcy case within one year after the first case, the automatic stay in the second case will automatically terminate “with respect to the debtor” on the 30th day of the...more

Revisiting the Concept of Prudential Standing: In re Ampal-American Israel Corp.

It is well recognized that there are penalties for violating the automatic stay. It does not follow, however, that any entity may seek to enforce the automatic stay. Recently, the United States Bankruptcy Court for the...more

Creditors Beware! Give the Trustee Time To Breathe Or Risk Violating The Automatic Stay

The Bankruptcy Code’s (the “Code”) automatic stay applies to all companies and individuals; it protects the debtor’s property, and the bankruptcy court’s jurisdiction, by barring any act to gain possession of property in the...more

I filed bankruptcy before and now I need to file again!

I filed bankruptcy before and now I need to file again. Is there a problem with that? As with many questions, the short answer to that is "it depends". The following are the two issues to consider....more

Accidents Don’t Cut It – Ensuring You Don’t “Unintentionally” Violate the Automatic Stay

A debtor files for bankruptcy protection, and his or her creditors are sent notice of the filing. Despite having received the notice, due to a breakdown in internal procedures one of the creditors, a bank, accidentally takes...more

Community Banking Excellence - Fourth Quarter 2013

In This Issue: - Interview with a Community Banking Professional - Holiday Wishes - Accidents Don't Cut It - Ensuring You Don't "Unintentionally" Violate the Automatic Stay - Dodd-Frank Essentials: Executive...more

Stay Away: Some Exceptions And Bases For Relief From The Bankruptcy Code’s Automatic Stay

The automatic stay provided for by section 362 of the Bankruptcy Code is triggered immediately upon the filing of a debtor’s petition with the Bankruptcy Court. Unfortunately, many business owners and managers have a basic...more

Business Litigation Report -- September 2013

In This Issue: ..Private Antitrust Litigation in the UK ..First Decision by PTO Under America Invents Act Invalidates Business Method Patent ..September 2013: Bankruptcy & Restructuring Litigation...more

September 2013: Bankruptcy & Restructuring Litigation Update - Second Circuit Addresses the Scope of the Bankruptcy Automatic...

The automatic stay triggered upon the filing of a voluntary bankruptcy petition is one of the fundamental protections available to a debtor. The automatic stay generally prohibits “the commencement or continuation ... of a...more

Litigation News -- Summer 2013

In This Issue: "Can Bankruptcy Be A Tool To Combat Eminent Domain? Probably Not" and "Finding the Facts Before the Lawsuit Begins: Pre-Complaint Discovery in Pennsylvania" Excerpt from Can Bankruptcy Be A Tool...more

Court Approves Extension of the Automatic Stay in Detroit’s Chapter 9 Case to State Officials

On July 24, 2013, Judge Steven W. Rhodes of the Bankruptcy Court for the Eastern District of Michigan approved the City of Detroit’s motion to extend the automatic stay to various non-debtor parties, including certain state...more

Weathering The Storm Of An Owner Or General Contractor Bankruptcy

Bankruptcy court is often the “court of bad news” for creditors. ...more

"Potential New Tax Planning Opportunities for Financially Distressed Pass-Through Entities"

In a decision issued last week, the U.S. Court of Appeals for the Third Circuit held that a debtor’s qualified subchapter S subsidiary (QSub) status is not property of the bankruptcy estate. The Third Circuit’s opinion...more

Speakers Recommend Chapter 11 Changes to Effect Safer, More Efficient Proceedings

NEW YORK — Any revisions to the federal Bankruptcy Code's treatment of qualified financial contacts should amend the Code's safe harbors to narrow preferential treatment for counterparties while retaining the Code's push to...more

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