Nolan A. Smith v. The Bank of New York Mellon (In re Ceralde)

Nolan A. Smith v. The Bank of New York Mellon (In re Ceralde) - B.R. - (9th Circuit B.A.P. August 6, 2013) (NOT FOR PUBLICATION)
(NOT FOR PUBLICATION) The Bankruptcy Appeal Panel held it was not abuse of discretion for the bankruptcy court to annul the automatic stay because the bankruptcy court properly applied the case-by-case approach finding the equitable factors of Debtor's actions outweighed the Creditors actions.
Procedural context:
After having secured property sold at auction, Secured Creditor sought retroactive annulment of the automatic stay. The court considered the equities between the parties and annulled the automatic stay. Debtor appealed to the Bankruptcy Appeals Panel.
Due to an involuntary bankruptcy, Debtor along with secured property entered into bankruptcy. Neither the Filing Creditor nor the Debtor filed an additional paperwork other than the petition. The Secured Creditor continued the Trustee sale of secured property once and then sold the property at a Trustee's Sale. The automatic stay was not lifted in regards to the property.
COLLINS, DUNN and KIRSCHER, Bankruptcy Judges

ABI Membership is required to access the full summary. Please Sign In using your ABI Member credentials. Not a Member yet? Join ABI now - it is absolutely worth it!

About us in numbers

3586 in the system

3470 Summarized

8 Being Processed