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In re Center 130 LLC

In re Center 130 LLC

Ruling
Relief from stay denied to high bidder at prepetition foreclosure sale as property was necessary for effective reorganization.
Procedural posture

Debtor filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code and continued to operate as debtor-in-possession. Movant creditor moved for relief from the automatic stay under 11 U.S.C.S. § 362.

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Commercial opinion summary, case decided on March 11, 2010 , LexisNexis #0610-042