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lift the automatic stay

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lift the automatic stay

In bankruptcy, all collection activities by creditors must cease as soon as the creditor receives notice of the bankruptcy proceeding.This is called the automatic stay.Creditors may proceed with foreclosure or repossession of collateral only if they obtain permission from the bankruptcy judge to do so.That request is called a request to lift automatic stay,the process is called lifting the stay.
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While this imaginative attempt by a lender to expand the scope of Code [section]101(51B) was unsuccessful, bankruptcy courts have taken pains to apply Code [section]362(d)(3) to lift the automatic stay in appropriate cases.
Amendments curb foreclosure delays by Mellon, Raymond T. / Mortgage Banking
After learning of the hospital's bankruptcy in March 2002, SIP repeatedly asked whether they intended to lift the automatic stay, to continue paying benefits, or if they intended to default on their self insured workers' compensation obligations.
State Opposes Employer Trying to Force Injured Workers to Settle ... by Business Wire
Bondholders' Committee") announced today that the Honorable Helen Balick of the Delaware Bankruptcy Court has granted their motion to lift the automatic stay in the Marvel Holdings bankruptcy.
Marvel Bondholders Win Motion to Lift Stay in Bankruptcy Court by Business Wire
 
 
 
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