- 11 U.S.C.
In re Lockwood
Apr
16
2010
Ruling
Creditor granted relief from stay to foreclose given lack of equity in properties.
Procedural posture
A creditor secured by a bankruptcy debtor's real properties asserted that the debtor lacked equity in the properties which were not necessary for the debtor's reorganization, but the debtor asserted that the properties had substantial value and were necessary to fund the debtor's plan. The creditor moved for relief from the automatic bankruptcy stay under 11 U.S.C.S. § 362(d)(2) to allow the creditor to foreclose against the properties.
ABI Membership is required to access the full summary of In re Lockwood Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: