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Pre-petition stay waiver clause
This has been a controversial question at the upper end of our practice over
the last 10 years. Some judges are taking the view that debtors should only
get 1 chance to reorganize and that the forbearance agreement is that
chance. They are enforcing the waiver. In most cases, however, it is not
enforceable. I would treat the stay as not waived and not waivable. Let
them file a relief from stay motion and argue that it is enforceable.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
nancy korompis
Sent: Wednesday, June 16, 2010 11:53 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Pre-petition stay waiver clause
Does anyone know if a pre-petition stay waiver clause in an agreement, in
this case a forebearance agreement, has been held as enforceable in our
district or circuit?
Thanks.
Nancy Korompis
Pasadena, CA
626 716-7763
Message
This has been a
controversial question at the upper end of our practice over the last 10
years. Some judges are taking the view that debtors should only get 1chance to reorganize and that the forbearance agreement is that chance.
They are enforcing the waiver. In most cases, however, it is not
enforceable. I would treat the stay as not waived and not waivable.
Let them file a relief from stay motion and argue that it is enforceable.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
Does anyone know if a pre-petition stay waiver clause in an agreement, in this case a forebearance agreement, has been heldasenforceable in our district or circuit?
Thanks.
Nancy Korompis
Pasadena, CA
626 716-7763
Does anyone know if a pre-petition stay waiver clause in an agreement, in this case a forebearance agreement, has been held as enforceable in our district or circuit?
Thanks.
Nancy Korompis
Pasadena, CA
626 716-7763
The post was migrated from Yahoo.