automatic stay — n: 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 the debtor for debts incurred before the filing Merriam Webster’s Dictionary of … Law dictionary
automatic stay — the suspension of actions, such as debt collection or foreclosure, against the company in bankruptcy. This occurs automatically when a bankruptcy petition is filed. This action protects the debtor from creditors seeking to seize its assets. It… … Glossary of Bankruptcy
Automatic stay — In bankruptcy law, an automatic stay is an automatic injunction which 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,… … Wikipedia
automatic stay — An injunction that automatically becomes effective upon the filing of any bankruptcy proceeding. The stay precludes creditors from taking action against the debtor or the debtor s property. In Chapter 12 or 13 bankruptcy proceedings, the… … Financial and business terms
Automatic Stay — A provision under the U.S. Bankruptcy Code prohibiting creditors from beginning or continuing proceedings for collecting owed amounts from a firm who files for bankruptcy under Chapter 11. An automatic stay can only be lifted by the bankruptcy… … Investment dictionary
automatic stay — Immediately upon the filing of a voluntary petition under the Bankruptcy Code a stay arises which generally bars all debt collection efforts against the debtor or property of his bankruptcy estate although the collection of postpetition debts… … Black's law dictionary
Automatic stay — The restricting of liability holders from collection efforts of collateral seizure, which is automatically imposed when a firm files for bankruptcy under Chapter 11. The New York Times Financial Glossary … Financial and business terms
motion to lift automatic stay — a request by a creditor to allow the creditor to take an action against a debtor or the debtor s property that would otherwise be prohibited by the automatic stay (Glossary of Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 … Glossary of Bankruptcy
motion to lift the automatic stay — A request by a creditor to allow the creditor to take an action against a debtor or the debtor s property that would otherwise be prohibited by the automatic stay. (BankruptcyAction.com) United Glossary of Bankruptcy Terms 2012 … Glossary of Bankruptcy
relief from the Automatic Stay — A Bankruptcy Court order authorizing a creditor to proceed with certain collection efforts (SA Bankruptcy.com) United Glossary of Bankruptcy Terms 2012 … Glossary of Bankruptcy
