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Section 362(b)(4) indicates that the stay under section 362(a)(1) does not apply to affect the commencement or continuation of an action or proceeding by a governmental unit to enforce the governmental unit’s police or regulatory power.
- Uscode - 11 USC 363
This limitation is intended to protect public utilities from...
- Uscode - 11 USC 363
1 Ιαν 2024 · Bankruptcy § 362. Automatic stay on Westlaw. FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
§362. Automatic stay (a) Except as provided in subsection (b) of this section, a petition filed under section 301, 302, or 303 of this title, or an application filed under section 5(a)(3) of the Securities Investor Protection Act of 1970, operates as a stay, applicable to all entities, of- (1) the commencement or continuation, including the issuance or employment of process, of a judicial ...
Under Bankruptcy Code section 362(a), the "automatic stay" applies at the moment a bankruptcy petition is filed. This offers a bankruptcy debtor protection FROM creditors who must file a "Relief from Stay" motion to ask the judge to terminate the stay to take action against the debtor or debtor's property outside of the bankruptcy court.
Contained Within. Title 11 - BANKRUPTCY. CHAPTER 3 - CASE ADMINISTRATION. SUBCHAPTER IV - ADMINISTRATIVE POWERS. Sec. 362 - Automatic stay.
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 obligation under the Bankruptcy Code’s automatic stay provisions of 11 U.S.C. §362 (a) (3) to return that property to ...
Automatic Stay -- Immediately after a bankruptcy case is filed, an injunction (called the "Automatic Stay") is generally imposed against certain creditors who want to start or continue taking action against a debtor or the debtor's property. Bankruptcy Code Section 362 discusses the Automatic Stay.
