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White Paper

6 Pages
  • 6 Pages

The Automatic Stay

 

The automatic stay can be a valuable defensive weapon.

A petition filed under the Bankruptcy Code operates as a stay of the commencement or continuation of any judicial, administrative, or other action or proceeding against the debtor. Once the bankruptcy petition is filed, creditors are prevented from enforcing their rights against the debtor or the debtor’s property. Litigation that was brought to enforce a claim against the debtor is stayed, even if brought prior to the petition. Among other things, the stay prevents any action to obtain possession of property, to create, perfect, or enforce any lien against property of the estate, or to setoff any debt owing to the debtor. This white paper reviews how to use the automatic stay as a defensive weapon to prevent creditors from pursuing claims against the debtor.
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The Automatic Stay

Agenda

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The Automatic Stay

Faculty

Michael R. King

Michael R. King

Gammage & Burnham

  • Founding member of Gammage & Burnham
  • Practice emphasizes creditors’ rights and construction issues, and also includes consulting and supervising throughout the firm’s areas of business
  • Includes emphasis on creditors’ rights, bankruptcy cases, general litigation, loan documentation, workouts, foreclosures and forcible detainers, as well as deficiency collection and accounts collection
  • Client list includes banks, mortgage companies, distributors in various industries and leasing companies
  • Former director of the Arizona Chapter of the National Association of Credit Managers (NACM)
  • Named Best Lawyer in the areas of bankruptcy and creditor debtor rights for the last 10 years by Best Lawyers in America
  • Ranked as a Super Lawyer by Super Lawyers
  • Ranked as one of Arizona’s Finest Lawyers by Arizona’s Finest Lawyers Foundation
  • Can be contacted at https://www.gblaw.com/professional/michael-r-king/
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The Automatic Stay

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