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A Chapter 11 Filing Can Extend an Inflexible Closing Date by 60 Days

Filing a chapter 11 petition to obtain an automatic 60-day extension of a closing date is not a bad faith filing, Judge Bernstein says.
Court: 
2nd Circuit›New York›New York Southern District

Case Law and Rules Update: Parts I and II

Bankruptcy Code: 
101
102
105
106
108
109
1334
303
327
330
345
363
365
502
503
506
521
522
523
524
542
546
547
552
553
726
727
922
928
1111
1112
1113
1114
1123
1129
1307
1325
1328
1329
1506
1322
326
362
541
544
548
549
550
Topics: 
Consumer Bankruptcy
Business Reorganization
International Insolvency
Municipal Bankruptcy
Puerto Rico
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Section 108(c) Tolls the Expiration of a Lien, Ninth Circuit Holds over a Dissent

Expiration of a lien is tolled anytime the automatic stay precludes enforcement of a judgment.

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