Annulment of the Automatic Stay: A Concept Whose Time Has Come

Annulment of the Automatic Stay: A Concept Whose Time Has Come – And Gone

By Academy Staff

The Automatic Stay is one of the most fundamental aspects of the Bankruptcy Code, providing a Chapter 7 Trustee “breathing room” to investigate Debtor’s financial affairs; and providing Debtors in Chapter 13 time to formulate and confirm a Chapter 13 Plan without facing the imminent loss of assets. Equally important, most Courts have concluded that actions in violation of the Stay are at least voidable and at most void ab initio. Even actions taken by a Creditor who has absolutely no knowledge of the bankruptcy are void (or voidable).

Many Courts have . . .

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From the Editor – Lien Modification

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By The Honorable William Houston Brown (Retired) Junior mortgage lienholder not affected by modifications of senior mortgage. Under Pennsylvania law, the prepetition modification of terms of the senior mortgage had recapitalized interest and costs already owed but had not created new liabilities. As a result, the junior mortgage holder was not materially prejudiced. The Chapter 13 debtors could avoid the...

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From the Editor – Fair Debt Collection Practices Act

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