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Is action against collateral violation of guarantor's bk stay?
Gio:
Collecting from Joe is collecting from Joe. Tom is just a guarantor. Tom
cannot protect Joe by Tom's filing. Auto stay protects the debtor from
collecting from the debtor, not Joe.
d
On Sun, Feb 17, 2013 at 11:35 PM, Giovanni Orantes wrote:
> **
>
>
> Here are the basic facts:
>
> Third party guarantees promissory note for which a deed of trust is
> recorded against real property in California, among other things.
>
> Bank conducts foreclosure sale of the real property before bk filing by
> guarantor but trustee's deed upon sale is not executed or recorded until
> about 1.5 months later. *Is the execution and recordation of the TDUS a
> violation of the automatic stay imposed by the guarantor's BK filing? * I
> would appreciate any case citations you can provide in this very important
> matter. I don't want to skew the discussion or feedback in any particular
> direction, but you should be aware that I am not doing this in a vaccuum as
> I have found at least one NY case with similar facts (though I don't want
> to say which way it went).
>
> Note that California does have a rule that allows a foreclosure to relate
> back to time of foreclosure sale (or 8am, to be more precise) if TDUS is
> recorded within 15 days of BK filing, but this TDUS was not executed or
> recorded until well after 30 days post BK filing.
>
> --
> Giovanni Orantes, Esq.
> Orantes Law Firm, P.C.
> 3435 Wilshire Blvd. Suite 1980
> Los Angeles, CA 90010
> Tel: (213) 389-4362
> Fax: (877) 789-5776
> e-mail: go@gobklaw.com
> website: www.gobklaw.com
>
> Board Certified - Business Bankruptcy Law - American Board of Certification
> Board Certified - Consumer Bankruptcy Law - American Board of Certification
> WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
>
> SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
> AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
>
> Note: The information contained in this e-mail message is confidential
> information intended only for the use of the individual or entity named. If
> the reader of this message is not the intended recipient or an agent
> responsible for delivering it to the intended recipient, you are hereby
> notified that any dissemination, distribution or copy of this communication
> is strictly prohibited. If you have received this communication in error,
> please immediately notify us by telephone or e-mail and delete the original
> e-mail at (213) 389-4362 or (888) 619-8222.
>
> IRS Circular 230 Disclosure: In order to comply with requirements imposed
> by the Internal Revenue Service, we inform you that any U.S. tax advice
> contained in this communication (including any attachments) is not intended
> to be used, and cannot be used, for the purpose of (i) avoiding penalties
> under the Internal Revenue Code or (ii) promoting, marketing, or
> recommending to another party any transaction or matter addressed herein.
>
>
>
Gio:Collecting from Joe is collecting from Joe. Tom is just a guarantor. Tom cannot protect Joe by Tom's filing. Auto stay protects the debtor from collecting from the debtor, not Joe.
dOn Sun, Feb 17, 2013 at 11:35 PM, Giovanni Orantes <go@gobklaw.com> wrote:
Here are the basic facts:Third party guarantees promissory note for which a deed of trust is recorded against real property in California, among other things.
Bank conducts foreclosure sale of the real property before bk filing by guarantor but trustee's deed upon sale is not executed or recorded until about 1.5 months later. Is the execution and recordation of the TDUS a violation of the automatic stay imposed by the guarantor's BK filing? I would appreciate any case citations you can provide in this very important matter. I don't want to skew the discussion or feedback in any particular direction, but you should be aware that I am not doing this in a vaccuum as I have found at least one NY case with similar facts (though I don't want to say which way it went).
Note that California does have a rule that allows a foreclosure to relate back to time of foreclosure sale (or 8am, to be more precise) if TDUS is recorded within 15 days of BK filing, but this TDUS was not executed or recorded until well after 30 days post BK filing.
-- Giovanni Orantes, Esq. Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 1980Los Angeles, CA 90010Tel: (213) 389-4362
Fax: (877) 789-5776e-mail: go@gobklaw.com
website: www.gobklaw.comBoard Certified - Business Bankruptcy Law - American Board of CertificationBoard Certified - Consumer Bankruptcy Law - American Board of Certification
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
Note: The information contained in this e-mail message is confidential information intended only for the use of the individual or entity named. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any dissemination, distribution or copy of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by telephone or e-mail and delete the original e-mail e"+18886198222" target"_blank">(888) 619-8222.
IRS Circular 230 Disclosure: In order to comply with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
The post was migrated from Yahoo.
Here are the basic facts:
Third party guarantees promissory note for which a deed of trust is
recorded against real property in California, among other things.
Bank conducts foreclosure sale of the real property before bk filing by
guarantor but trustee's deed upon sale is not executed or recorded until
about 1.5 months later. *Is the execution and recordation of the TDUS a
violation of the automatic stay imposed by the guarantor's BK filing? * I
would appreciate any case citations you can provide in this very important
matter. I don't want to skew the discussion or feedback in any particular
direction, but you should be aware that I am not doing this in a vaccuum as
I have found at least one NY case with similar facts (though I don't want
to say which way it went).
Note that California does have a rule that allows a foreclosure to relate
back to time of foreclosure sale (or 8am, to be more precise) if TDUS is
recorded within 15 days of BK filing, but this TDUS was not executed or
recorded until well after 30 days post BK filing.
Giovanni Orantes, Esq.
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 1980
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
Board Certified - Business Bankruptcy Law - American Board of Certification
Board Certified - Consumer Bankruptcy Law - American Board of Certification
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
Note: The information contained in this e-mail message is confidential
information intended only for the use of the individual or entity named. If
the reader of this message is not the intended recipient or an agent
responsible for delivering it to the intended recipient, you are hereby
notified that any dissemination, distribution or copy of this communication
is strictly prohibited. If you have received this communication in error,
please immediately notify us by telephone or e-mail and delete the original
e-mail at (213) 389-4362 or (888) 619-8222.
IRS Circular 230 Disclosure: In order to comply with requirements imposed
by the Internal Revenue Service, we inform you that any U.S. tax advice
contained in this communication (including any attachments) is not intended
to be used, and cannot be used, for the purpose of (i) avoiding penalties
under the Internal Revenue Code or (ii) promoting, marketing, or
recommending to another party any transaction or matter addressed herein.
Here are the basic facts:Third party guarantees promissory note for which a deed of trust is recorded against real property in California, among other things.
Bank conducts foreclosure sale of the real property before bk filing by guarantor but trustee's deed upon sale is not executed or recorded until about 1.5 months later. Is the execution and recordation of the TDUS a violation of the automatic stay imposed by the guarantor's BK filing? I would appreciate any case citations you can provide in this very important matter. I don't want to skew the discussion or feedback in any particular direction, but you should be aware that I am not doing this in a vaccuum as I have found at least one NY case with similar facts (though I don't want to say which way it went).
Note that California does have a rule that allows a foreclosure to relate back to time of foreclosure sale (or 8am, to be more precise) if TDUS is recorded within 15 days of BK filing, but this TDUS was not executed or recorded until well after 30 days post BK filing.
-- Giovanni Orantes, Esq. Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 1980Los Angeles, CA 90010Tel: (213) 389-4362Fax: (877) 789-5776e-mail: go@gobklaw.com
website: www.gobklaw.comBoard Certified - Business Bankruptcy Law - American Board of CertificationBoard Certified - Consumer Bankruptcy Law - American Board of Certification
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
Note: The information contained in this e-mail message is confidential information intended only for the use of the individual or entity named. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any dissemination, distribution or copy of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by telephone or e-mail and delete the original e-mail IRS Circular 230 Disclosure: In order to comply with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
The post was migrated from Yahoo.