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.
On Tuesday, October 6, 1998, the Bankruptcy Court heard on an emergency basis motions filed by Merrill Lynch IPF and NationsBank to lift the automatic stay
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.
The insurance company would be required to lift the automatic stay
in order to access the cash.
Upon such a filing, a lender would typically move to lift the automatic stay
as soon as possible.
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.