News & Analysis as of

Consumer Bankruptcy › Chapter 13 › Automatic Stay

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Locke Lord LLP

Orlansky v. Quicken Loans, LLC & ‎Violations of the Automatic Stay

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Notices of filing bankruptcy from debtors to its creditors are intended to halt all collection efforts of prepetition debts. But where lenders are required by law to provide information to mortgagors who are debtors in...more

Jenner & Block

Compilation of Recent Developments in Bankruptcy Law - January 2023

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1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major...more

Jenner & Block

Recent Developments in Bankruptcy Law, January 2023

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1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major multinational...more

Jenner & Block

Recent Developments in Bankruptcy Law, April 2022

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2. AVOIDING POWERS - 2.1 Fraudulent Transfers - 2.1.a Imposition and payment of a tax penalty is not a fraudulent transfer. While insolvent, the debtor incurred and paid tax penalties before bankruptcy. A transfer of...more

McGlinchey Stafford

Repossessions and Bankruptcy Post-COVID, Post-Fulton [More with McGlinchey, Ep. 26]

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COVID-19’s economic impact on borrowers’ ability to repay loans has had major repercussions for auto lenders, and the U.S. Supreme Court recently issued a decision relating to repossessions in bankruptcy. In this episode of...more

Obermayer Rebmann Maxwell & Hippel LLP

Just Hold on: The Supreme Court Rules That a Creditor’s Mere Retention of Property Lawfully Seized Prepetition Does Not Violate...

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In a case with significant implications for the practices of the lending industry, the Supreme Court unanimously ruled in early 2021 that a secured creditor that lawfully repossesses collateral does not have an affirmative...more

McGlinchey Stafford

Vehicle Finance Lenders Beware: The Coming Wave Of Post-Fulton Automatic Stay And Turnover Adversary Proceedings

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By now, you likely are aware of the recent Supreme Court decision in City of Chicago, Illinois v. Fulton. The Court rightly found that merely retaining possession of a vehicle repossessed pre-petition is not a violation of...more

Foster Swift Collins & Smith

Supreme Court Holds that “Mere Retention” of Estate Property After Bankruptcy Filing Doesn't Violate the Automatic Stay

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On January 14, 2021, the U.S. Supreme Court decided City of Chicago, Illinois v. Fulton (Case No. 19-357, Jan. 14, 2021), a case which examined whether merely retaining estate property after a bankruptcy filing violates the...more

Kaufman & Canoles

Bankruptcy & Creditors’ Rights Alert – February 2021

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RETAINING POSSESSION OF A VEHICLE DOES NOT VIOLATE THE AUTOMATIC STAY – CHICAGO V. FULTON - The Supreme Court of the United States recently offered some clarity on one of the many issues creditors face when a borrower,...more

Partridge Snow & Hahn LLP

The Supreme Court Teaches A Lesson In Passive Non-Aggression: City of Chicago v. Fulton

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In a recent decision, the U.S. Supreme Court gave a narrow win to creditors in a dispute over the proper interpretation of the automatic stay provisions in the Bankruptcy Code, ruling that creditors may passively retain a...more

Troutman Pepper

Supreme Court Rules that Possession of Estate Property Does Not Violate Automatic Stay

Troutman Pepper on

On January 14, the Supreme Court ruled that more than a mere retention of estate property is needed for a party to violate the automatic stay, vacating and remanding a decision by the U.S. Court of Appeals for the Seventh...more

Foster Garvey PC

Supreme Court Clarifies That Section 362(a)(3) Does Not Prohibit the Mere Retention of a Debtor’s Property

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The Supreme Court has lowered (but not eliminated) the risk that a creditor violates the automatic stay by retaining a debtor’s property post-petition. On January 14, 2021, the Supreme Court ruled 8-0 (Justice Barrett...more

Jones Day

U.S. Supreme Court: Mere Retention of Property Does Not Violate the Automatic Stay

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The Situation: Circuit courts were split on whether mere retention by a creditor of estate property violates the Bankruptcy Code's automatic stay, under 11 U.S.C. § 362(a)(3). The U.S. Supreme Court considered the question in...more

Mitchell, Williams, Selig, Gates & Woodyard,...

To Return or Not To Return. That Is The Question.

Mitchell, Williams, Selig, Gates & Woodyard,... on

Most lawyers and bankers understand the basic terms of the automatic stay when a Debtor files bankruptcy. 11 USC section 362 applies to all bankruptcy chapters and provides as follows: (a)Except as provided in subsection...more

Moritt Hock & Hamroff LLP

Supreme Court Breaks Divide: Mere Retention Of Debtor Property Is Not A Stay Violation

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The United States Supreme Court has resolved a split among lower courts on the issue of whether a lessor who repossesses debtor collateral on eve of bankruptcy violates the automatic stay by failing to surrender such property...more

Mintz - Bankruptcy & Restructuring Viewpoints

The Automatic Stay: Supreme Court Finds that Retaining Debtors’ Property, Despite Turnover Demands, is Not a Stay Violation

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If a creditor is holding property of a party that files bankruptcy, is it “exercising control over” such property (and violating the automatic stay) by refusing the debtor’s turnover demands? According to the Supreme Court,...more

Smith Debnam Narron Drake Saintsing & Myers,...

Mere Retention of Property of the Estate Does Not Violate the Automatic Stay

Smith Debnam Narron Drake Saintsing & Myers,... on

The Supreme Court of the United States has resolved a split in the circuits as to whether an entity that is passively retaining possession of property in which a bankruptcy estate has an interest has an affirmative obligation...more

Clark Hill PLC

Supreme Court Holds that Mere Retention of Property Does Not Violate the Automatic Stay

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The Supreme Court of the United States on January 14, 2021, issued a decision in the case of City of Chicago v. Fulton that favors creditors in a bankruptcy case. The Court held that a creditor’s “mere retention” of property...more

Nelson Mullins Riley & Scarborough LLP

Supreme Court: Merely Holding Property Isn’t a Violation of the Automatic Stay

Nelson Mullins Riley & Scarborough LLP on

In City of Chicago, Illinois v. Fulton, No. 19-357, 2021 WL 125106, at *1 (U.S. Jan. 14, 2021), the United States Supreme Court considered the issue of whether the mere retention of estate property after the filing of a...more

Snell & Wilmer

United States Supreme Court Holds That Bankruptcy Automatic Stay Does Not Require Return of Property Seized Before The Bankruptcy...

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One issue which has confounded bankruptcy attorneys and courts is whether a creditor, that seized the debtor’s property before the debtor filed for bankruptcy, violates the automatic stay if it does not voluntarily return the...more

Bradley Arant Boult Cummings LLP

Supreme Court Holds Mere Retention of Bankruptcy Debtor’s Property Is Not a Violation of the Automatic Stay but More Questions...

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For the past few years, the federal circuit courts have struggled with the issue of whether a creditor retaining possession of bankruptcy estate property violates the automatic stay. For example, is a creditor required to...more

Dorsey & Whitney LLP

The Supreme Court - January 14, 2021

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Chicago v. Fulton, No. 19-357: Under the Bankruptcy Code, filing a bankruptcy petition creates a bankruptcy estate and also operates as a stay on any entity’s efforts to collect from the debtor outside the bankruptcy forum....more

Patterson Belknap Webb & Tyler LLP

Pre-Bankruptcy Seizure: Recent Third Circuit Decision Widens Circuit Split Regarding Obligations of Secured Creditors in Respect...

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In July 2016, Joy Denby-Peterson purchased a Chevrolet Corvette. When she defaulted on one of her car payments a few months later, the Corvette was repossessed by her lender. Denby-Peterson then filed a voluntary petition...more

Bradley Arant Boult Cummings LLP

The City Has My Vehicle. What Now?

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Chicagoans have found a new avenue through which to regain possession of their vehicle after it has been impounded by the City: file a chapter 13 bankruptcy case. In 2018, 17,603 new chapter 13 bankruptcy cases were filed in...more

Holland & Knight LLP

West Coast Real Estate Update: Feb. 2016 #1

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Residential Communities: Proposed Amendment to Allow Owners' Attorneys at Association Board Meetings - In an attempt to further broaden when a member of a common interest development association can bring his or her...more

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