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Section 362(C)(3): Does It Terminate The Entire Automatic Stay?, Michael Aryeh
Section 362(C)(3): Does It Terminate The Entire Automatic Stay?, Michael Aryeh
Bankruptcy Research Library
(Excerpt)
Section 362 operates to create an automatic stay upon the filing of a bankruptcy petition. The automatic stay, among other things, prevents a debtor’s creditors from seeking to enforce a judgment against a debtor or against property of the estate, taking any act to obtain possession of property of the estate, or taking any act to create or enforce a lien. Section 362, however, does contain numerous provisions that provide for limitations to the automatic stay.
Among these provisions is section 362(c)(3)(A), which provides in relevant part that “if a single or joint case is filed by or against …
Applying The Automatic Stay To Non-Debtors, Raff Ferraioli
Applying The Automatic Stay To Non-Debtors, Raff Ferraioli
Bankruptcy Research Library
(Excerpt)
The automatic stay provision of the Bankruptcy Code is regarded as one of the most essential protections the Code offers to debtors. Section 362(a) provides that the filing of a bankruptcy petition “operates as a stay [of] action[s] or proceeding[s] against the debtor.” Thus, when an entity files for bankruptcy, an automatic stay is created that prevents creditors from taking any action to collect or enforce a debt, including among other things, continuing ongoing litigation.
Practically, the automatic stay enables all claims against a debtor to be brought in a single forum. Simultaneously, it also preserves “what remains of …