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§ 362(d)(2)

Bayview Loan Servicing LLC v. ECOS Ctr. LLC (In re EOS Ctr. LLC)

Mar
24
2009
Ruling
Relief from stay to foreclose granted where property was not necessary to an effective reorganization.
Procedural posture

Creditor filed a motion for relief from the automatic stay, pursuant to 11 U.S.C.S. § 362(a), in order to foreclose its interest in debtor's real property.

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Commercial opinion summary, case decided on March 24, 2009 , LexisNexis #0509-109
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In re Carlsbad Dev. LLC

Mar
06
2009
Ruling
Relief from stay to allow undersecured creditor to foreclose on apartment complex granted where chapter 11 plan was not likely to be confirmed in a reasonable period.
Procedural posture

A single asset real estate debtor filed a petition under chapter 11 of the Bankruptcy Code and a plan for reorganizing its business. A creditor filed a motion seeking relief under 11 U.S.C.S. § 362(d)(2) and (3) from the stay that was imposed when the debtor declared bankruptcy. The motion was tried to the court.

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Commercial opinion summary, case decided on March 06, 2009 , LexisNexis #0609-003
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In re W.B.S.S. LP

Mar
13
2007
Ruling
Relief from stay granted to allow foreclosure of judgment lien on property necessary to fund reorganization where debtor had made no genuine efforts to fund plan.
Procedural posture

Movants filed a motion for relief from the automatic stay pursuant to 11 U.S.C. § 362(d)(2) to foreclose their judgment lien upon chapter 11 debtor's property interests.

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opinion summary, case decided on March 13, 2007 , LexisNexis #0607-074
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In re Northwest Timberline Enters.

Aug
24
2006
Ruling
Relief from stay granted to allow mortgage creditor to foreclose where proposed chapter 11 plan was unconfirmable and there was no reasonable chance of effective reorganization.
Procedural posture

Affiliated bankruptcy debtors, owners of separate gas stations/convenience stores, proposed a joint reorganization plan involving subordination of the lien of a secured creditor to obtain a new secured loan to pay property taxes, and repayment of the creditor's allowed secured claims in installments with interest. The creditor asserted that the plan was not feasible and moved for relief from the automatic bankruptcy stay.

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opinion summary, case decided on August 24, 2006 , LexisNexis #1006-087
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In re Hoyo

Feb
07
2006
Ruling
Court denied debtor's wife relief from the automatic stay since a marital settlement agreement that affected the property in question was not final until after filing.
Procedural posture

The debtor's estranged wife filed a motion for relief from the stay. The wife claimed that the debtor did not retain any interest in property that was to be conveyed to the wife through a marital settlement agreement ("MSA") executed but not performed before the debtor had filed his petition for chapter 7 relief.

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opinion summary, case decided on February 07, 2006 , LexisNexis #0406-115
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Martens v. Countrywide Home Loans (In re Martens)

Oct
03
2005
Ruling
Order granting relief from automatic stay was affirmed where the debtor admitted to making no mortgage payments for several months and to having no equity in the property.
Procedural posture

Husband and wife debtors filed for relief under chapter 7. The bankruptcy court granted appellant creditor's motion for relief from the automatic stay with respect to the debtors'real property. Appellant wife (debtor) filed a pro se appeal of that decision; the husband did not join the appeal.

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Court :
Judge or Jurisdiction information not available
opinion summary, case decided on October 03, 2005 , LexisNexis #0106-076
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