In United States bankruptcy law, an automatic stay is an automatic injunction that halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy. Under section 362 of the United States Bankruptcy Code, the stay begins at the moment the bank...
The meaning of AUTOMATIC STAY is a stay that comes into operation upon the filing of a bankruptcy petition in accordance with bankruptcy law that prevents creditors from attempting to collect from...
An automatic stay is a legal provision that temporarily prevents creditors from trying to collect money or seize property from debtors in bankruptcy.
This article provides an overview of the automatic stay, one of the most important protections and powerful tools available to a debtor in bankruptcy.
(1) the commencement or continuation, including the issuance or employment of process, of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before the commencement of the case under this title, or to recover a claim against the debtor that arose before the commencement of the case under this title; (2) the enforcement, against the debtor or against property of the estate, of a judgment obtained before the commencement of the case u...
Automatic Stay -- Immediately after a bankruptcy case is filed, an injunction (called the "Automatic Stay") is generally imposed against certain creditors who want to start or continue taking action against a debtor or the debtor's property. Bankruptcy Code Section 362 discusses the Automatic Stay. Protection for the Debtor – It is important to read relevant statutes from the Bankruptcy Code and/or to consult with a competent bankruptcy attorney about the Automatic Stay because in some situati...
In bankruptcy, an automatic stay can prevent creditors from collecting or even contacting debtors.
The automatic stay in bankruptcy can stop a foreclosure, but If you’ve filed for bankruptcy in the past year the stay might be temporary or not go into effect.
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유동성 위기에 몰린 기업이 회생 절차를 신청하면 동시에 채권자의 권리 행사를 중지시켜 채무자가 파산하는 것을 막는 것을 말한다. 회생 절차를 신청한 기업이 채권자들의 경쟁적인 채권회수로 부터 보호하기 위해...