12801 Darby Brook Ct #201
Woodbridge, VA 22192
3977 Chain Bridge Rd #2
Fairfax, VA 22030
If a secured creditor would not truly feel that it is staying sufficiently safeguarded before the time its lease is assumed or turned down (i.e. It isn't getting rents or does not have a adequate protection deposit), it can ask for that the courtroom enter an buy correcting a time to the trustee or debtor-in-possession to believe or reject the executory contract or unexpired lease.
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At the preliminary hearing, the buy is scrutinized through the court docket and one other functions to find out whether or not the secured creditor is adequately protected and/or whether or not the debtor took a "dive" by cross-collateralizing pre-petition and post-petition assets or waiving the ideal to contest the validity in the secured creditor's lien.
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(ii) keep its lien on any proceeds If your collateral is offered cost-free and away from the secured lien; or
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Due to the fact There's a major distinction between home loans on property and stability interests in individual residence, the Bankruptcy Code gives the trustee the particular powers of the bona fide purchaser of real-estate Along with its powers for a hypothetical lien creditor.
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In order to resolve the present break up in between the circuits, the Supreme Court in Dewsnup v. Timm, supra, held that § 506(d) will not allow a lien to generally be "stripped down" to the value with the collateral identified in accordance with § 506(a). The court observed that even though the term "allowed secured declare" may arguably hold the similar indicating for uses of § 506(d) that it does for § 506(a), Congress did not intend to depart next from your pre-Bankruptcy Code rule that liens pass through the case unaffected.
If all of the final needs of affirmation less than § 1129(a) are met, the approach might However be verified more than the objection of a dissenting impaired course underneath § 1129(b).