- 11 U.S.C.
In re RIM Dev. LLC
Aug
13
2010
Ruling
Relief from stay granted allow creditor to enforce security interest where debtor failed to propose plan with reasonable possibility of confirmation.
Procedural posture
A debtor in a single asset real estate case proposed successive plans for completion of the debtor's planned residential and commercial development with payments to secured creditors. A creditor secured by certain town homes in the development moved for relief from the automatic bankruptcy stay pursuant to 11 U.S.C.S. § 362(d)(3)(A) to allow the creditor to enforce its security interest.
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Court
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