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Under section 362(d)(1) of the House amendment, the court may terminate, annul, modify, or condition the automatic stay for cause, including lack of adequate protection of an interest in property of a secured party. It is anticipated that the Rules of Bankruptcy Procedure will provide that those hearings will receive priority on the calendar.
- Uscode - 11 USC 363
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- Uscode - 11 USC 363
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 ...
1 Ιαν 2024 · (1) the commencement or continuation, including the issuance or employment of process, of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before the commencement of the case under this title, or to recover a claim against the debtor that arose before the commencement of the c...
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.
A Practice Note discussing motions for relief from the automatic stay of actions against single asset real estate debtors and actions involving prospective or in rem relief under sections 362(d)(3) and (d)(4), respectively, of the Bankruptcy Code.
Contained Within. Title 11 - BANKRUPTCY. CHAPTER 3 - CASE ADMINISTRATION. SUBCHAPTER IV - ADMINISTRATIVE POWERS. Sec. 362 - Automatic stay.
11 Μαΐ 2000 · Under section 362(a) of the Bankruptcy Code, immediately upon the filing of its bankruptcy petition, a debtor receives the protection of the automatic stay, which, among other things, operates to prevent secured creditors from enforcing liens against the debtor’s estate.
