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sect 105 injunction for stay lost per sect 362(c)(4)

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    sect 105 injunction for stay lost per sect 362(c)(4)

    suffered state court judgment with punitive damages.
    filed appeal & briefs-couldn't get supersedeas bond.
    filed ch 11-jdgmt creditor stayed appeal court.
    bkrtcy dismissed (didn't say with prejudice) twice due to filing errors
    immediately filed 3rd ch 11 - didn't realize no stay.
    I file for plan to sell rental property to fund 100% plan.
    after 30 days jdgt creditor files execution on rental property anyways.
    i file adversary for sect 105 injunction and TRO- execution will ruin reorg plan.
    judge says my bankruptcy is mere attempt to resolve a 2 way dispute -
    only used to stop collection during state appeal- denies my injunction.
    meeting to confirm plan in only 2 weeks!
    what can i do? can i appeal bkrtcy ruling to higher court? can i get a quick
    hearing on TRO before jdgt creditor executes on my property?
    any suggestions appreciated.

    #2
    I dont think the court will allow a plan to be confirmed if your funding it with proceeds from something not sold. I am not sure of your situation and why you filed an 11 over a 13? If you were planning on selling the house to pay off the plan, than why not create a liquidation plan which is almost like a chapter 7. It will allow you to get rid of the house and pay pennies on the dollor for the unsecured creditors, you will not get away with paying nothing. If you have equity in the place your attempting to sell, I would put that in my plan, but you will have to make current post petition mortgage payments until the place is sold any extra payments you make in cash may yield a bigger return once you sell. You need to overcome the judge thinking your in it only for a stall and thats it or he will through you and your case out and ban ya from filing again for awile.
    Last edited by AlbanyMan; 08-05-2010, 04:55 PM. Reason: edit

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