Kenneth A. Listwak, left, and Francis J. Lawall, right, of Troutman Pepper Hamilton Sanders. Automatic Stay Blocks Interference With Debtor Business Relationships
The automatic stay is arguably the most important protection the Bankruptcy Code provides a debtor. Sophisticated creditors know that actions taken in violation of the stay can result in serious judicial sanctions.
December 17, 2020 at 11:12 AM
7 minute read
The automatic stay is arguably the most important protection the Bankruptcy Code provides a debtor. Sophisticated creditors know that actions taken in violation of the stay can result in serious judicial sanctions. Most creditors are aware of the obvious stay violations such as trying to collect on a pre-petition debt, repossessing a debtor's property and executing on a judgement against a debtor. But some creditors may not realize that interfering with a debtor's external business relationships can also violate the automatic stay, a nuance that a recent Delaware bankruptcy court decision highlighted. In re Extraction Oil & Gas, Case No. 20-11548 (CSS) (Bankr. D. Del. 2020) (Docket No. 1250).demonstrates this nuance in the enforcement of the automatic stay.
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