Photo: Shutterstock Second Circuit's Bright-Line Rule Spells Trouble for Unsuspecting Lenders
Over the summer, the U.S. Court of Appeals for the Second Circuit answered the open question of whether the Bankruptcy Code's automatic stay provisions are violated by the foreclosure sale of a property when the debtor is a named defendant in the foreclosure proceeding, even if the debtor's interest in the property is only possessory, in the affirmative.
November 17, 2022 at 10:00 AM
6 minute read
Creditors' and Debtors' Rights
Over the summer, the Second Circuit Court of Appeals answered the open question of whether the Bankruptcy Code's automatic stay provisions are violated by the foreclosure sale of a property when the debtor is a named defendant in the foreclosure proceeding, even if the debtor's interest in the property is only possessory, in the affirmative.
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