In re Diamond Exec. Office Suites & Virtual Offices LLC

Ruling: 
Relief from stay granted to allow enforcement of stipulation after debtor's default.
Procedural posture: 
After the debtor filed a chapter 11 petition, the debtor and creditor entered a stipulation that permitted the debtor to use certain rents and profits derived from a real property that constituted the creditor's cash collateral. When the debtor failed to pay invoices for attorney's fees and costs as provided in the stipulation, the creditor declared a default and sought relief from the automatic stay for cause pursuant to 11 U.S.C.S. § 362(d)(1).
Issue: 
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Commercial case opionion summary, case decided on March 13,2009, LexisNexis #0609-042