Legal Opinion

In Re Pegasus Agency, Inc., Debtor. Pegasus Agency, Inc. v. Nicholas Grammatikakis, Also Known as Nicholas Grammas

Court of Appeals for the Second Circuit

Decided December 5, 1996No. 598, Docket 96-5047PublishedCited by 51 opinions

1Opinion of the Court

"WINTER, Circuit Judge:

Nicholas Grammatikakis, a/k/a Nicholas Grammas, appeals from Judge Brieant’s vacating of Bankruptcy Judge Hardin’s order that granted relief from the automatic-stay provision of 11 U.S.C. § 362(a) pursuant to 11 U.S.C. § 362(d)(2). Grammas sought relief from the stay to pursue a state-court foreclosure action on a parcel of land owned by Pegasus Agency, Inc. (“Pegasus”). The bankruptcy judge concluded that Pegasus had not demonstrated a reasonable prospect of a reorganization, as required to sustain the stay pursuant to Section 362(d)(2)(B) and the decision in United…

2Cases cited12 opinions

  1. United Sav. Assn. of Tex. v. Timbers of Inwood Forest Associates, Ltd.Supreme Court of the United States · 1988
  2. Commercial Contractors, Inc. v. StoneCourt of Appeals for the Tenth Circuit · 1985
  3. 33 Collier bankr.cas.2d 1174, Bankr. L. Rep. P 76,540 in Re Prudential Lines, Inc., Debtor. Lee Dicola, Trustee of the Pli Disbursement Trust, Asbestosis Represented by Maritime Asbestosis Legal Clinic, Intervenor-Plaintiff-Appellee v. American Steamship Owners Mutual Protection and Indemnity Association, Inc.Court of Appeals for the Second Circuit · 1995
  4. Barclays Bank of New York, N.A. v. Saypol (In Re Saypol)United States Bankruptcy Court, S.D. New York · 1983
  5. Florence Bowers v. Connecticut National BankCourt of Appeals for the Second Circuit · 1988

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3Cited by51 opinions

  1. Pfizer Inc. v. Law Offices of Peter G. Angelos (In Re Quigley Co.)Court of Appeals for the Second Circuit · 2012
  2. In Re Adelphia Communications Corp.District Court, S.D. New York · 2005
  3. Procel v. United States Trustee (In Re Procel)District Court, S.D. New York · 2012
  4. In Re Kaplan Breslaw Ash, LLCUnited States Bankruptcy Court, S.D. New York · 2001
  5. Quigley Co. v. Coleman (In Re Quigley Co.)United States Bankruptcy Court, S.D. New York · 2005

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