(Bankr. W.D. Ky. Sep. 12, 2016)
The bankruptcy court grants the motion to terminate the automatic stay. The creditor and the debtor entered into a sale contract prepetition for sale of the debtor’s real property. The debtor argued that the sale contract terminated prepetition, and the creditor argued that it should be permitted to pursue its claims on the contract in state court. The court finds that the debtor has no equity in the property and that it is not necessary to an effective reorganization. Thus, stay relief is appropriate. Opinion below.
Attorney for Debtor: Kruger & Schwartz, Richard A. Schwartz
Attorney for Creditor: Eddins Domine Law Group, PLLC, H. Kevin Eddins
Author: Matt Lindblom