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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
“The amendments made by this section [amending this section...
- Uscode - 11 USC 363
§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 ...
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.
The Code provides automatic stays in several sections, e.g., §§362(a), 1301(a), and in §362(d) provides some grounds for relief from the stay. This rule specifies that the pleading seeking relief is by means of a motion.
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.
25 Ιουν 2014 · If a creditor believes that it is entitled to relief from the automatic stay, it can obtain stay relief by filing a motion under Section 362(d) of the Bankruptcy Code, which initiates a contested matter before the bankruptcy court.
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.
