In re RMAA Real Estate Holdings LLC

Ruling: 
Foreclosure sale was valid where court had waived 14-day stay of order granting relief from stay.
Procedural posture: 
Debtor and others were plaintiffs in this matter. A real estate company and others were defendants. Certain creditors asserted in their complaint that a foreclosure sale held on September 13, 2010, was not valid because the September 10, 2010, order granting relief from the automatic stay was itself stayed by Fed. R. Bankr. P. 4001(a)(3) for 14 days. A creditor (bank) secured by a first deed of trust in debtor's real estate moved to dismiss.
Issue: 
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Commercial case opionion summary, case decided on November 15,2010, LexisNexis #1210-138