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In re Village in Roanoke (Case No. 09-72431) 05/28/2010

On a creditor's motion for relief from the automatic stay pursuant to 11 U.S.C. §§ 362(d), where the debtor has not commenced payments and has filed a plan within 90 days of the commencement of the case that does not have a reasonable possibility of being confirmed, the Court granted the motion for relief with conditions. The Court held that conditioning the automatic stay was more appropriate in this case than to terminate it altogether. The Court conditioned the continuation of the automatic stay upon the debtor’s ability to obtain confirmation of its amended by July 15, 2010.

Date: 
Friday, May 28, 2010
Category: 
Automatic Stay
Chapter 11 Issues
Classification of Claims
Confirmation of Plan
Chapter: 
11