Why do creditors typically seek relief from the Automatic Stay? Which creditors are the most likely to file a motion for relief from the Automatic Stay? Can a creditor just decide on its own that it is exempt from the Automatic Stay? Explain
What will be an ideal response?
Creditors are prohibited from unilaterally defying the Automatic Stay. The Automatic Stay remains in effect until it is lifted by order of the bankruptcy court pursuant to Section 362(c) of the Bankruptcy Code. Creditors typically seek relief from the Automatic Stay or, in essence, have it lifted or removed by the court, for the following reasons: the creditors' interest in the property is not adequately protected, the property in question is depreciating in value, and the debtor has no equity in the property, and the property is not needed for reorganization under Chapter 13. Secured creditors are among those who frequently seek relief from the Automatic Stay.
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Fill in the blank(s) with the appropriate word(s).
?Federal courts have exclusive jurisdiction in which of the following subject matters?
A. ?Copyrights B. ?Adoptions C. ?Bankruptcy D. ?Copyrights and bankruptcy E. ?Adoptions and bankruptcy
The purpose of a disaster recovery plan is to plan and prepare how to rebuild and recover from a total disaster.?
Answer the following statement true (T) or false (F)
An employee must have worked four out of the last five calendar quarters in order to qualify for unemployment benefits
Indicate whether the statement is true or false