In re Shores of Panama Inc.

Ruling: 
Relief from stay granted to allow arbitration of condominium project dispute.
Procedural posture: 
A general contractor (creditor) moved for relief from stay and to compel arbitration so that the parties might continue a pre-petition arbitration against debtor, a developer which had hired the creditor to build a condominium project. The creditor also sought to proceed against an irrevocable letter of credit that had been issued by a bank. At issue was whether there was cause to lift the automatic stay within the meaning of 11 U.S.C.S. § 362.
Issue: 
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Commercial case opionion summary, case decided on May 20,2008, LexisNexis #0708-002