Law Offices of Robert E. Brown, P.C.
Bruce Bergman is a partner with Berkman, Henoch, Peterson & Peddy, P.C., who is a noted authority on New York foreclosure law.
In the N.Y. Real Property Law Journal (Summer 2010 Vol. 38 No. 3), Mr. Bergman provides some insight on the intersection of N.Y. foreclosure law and the Bankruptcy Code, and cites the following highlights:
- The Bankruptcy Code provides for an automatic stay of certain prescribed actions against a debtor's property (11 U.S.C. s. 362[a]). This includes foreclosure actions.
- Imposition of the automatic stay is one of the fundamental protections afforded a debtor by the Bankruptcy Code.
- The stay is effective immediately upon the filing of a petition without need for further action.
- The stay is not limited to the litigants, but rather extends to a non-bankruptcy court too so that the stay serves to suspend any non-bankruptcy court authority to continue any judicial proceedings which are then pending against that debtor--including foreclosure actions.
- Proceedings which the Bankruptcy Code stays upon a petition filing are void if they take place after the stay begins.
- The power to address legal actions violative of the stay are given to the bankruptcy court itself--not the state court.
Wisconsin Mortgage Corporation has been providing quality home loans across Wisconsin.Meet our loan officers. Please choose the loan officer that you were referred to view their personal page and apply online.Wisconsin Mortgage Each loan officer's page includes the following services.
I really appreciate your work which you have shared here about the Bankruptcy. The article you have shared here is very informative and the points you have mentioned are very helpful. Thank you so much. minnesota debt settlement lawReplyDelete
What you're providing is quite fascinating. I truly loved reading it, and it has a lot of useful information for us Small Business Disaster Loans. I'm appreciative that you shared this article.ReplyDelete