Legal Opinion
In Re I. Burack, Inc.
United States Bankruptcy Court, S.D. New York
Decided October 16, 1991No. 19-22353PublishedCited by 3 opinions
1Opinion of the Court
DECISION ON MOTION FOR AN ORDER GRANTING RELIEF FROM THE AUTOMATIC STAY OR ABSTAINING
HOWARD SCHWARTZBERG, Bankruptcy Judge.
The parties in this relief from stay motion might be compared with the passengers on the Titanic fighting for deck chair locations. The Chapter 11 corporate debtor alleges that it is insolvent, whereas the plaintiff seeks stay relief under 11 U.S.C. § 362(d)(1) for cause in order to proceed in state court to obtain a valuation of her one-third interest in the debtor’s equity so as to enforce a state court order directing the debtor to buy back the plaintiff’s stock…
2Cases cited6 opinions
- In Re Sonnax Industries, Inc., Debtor. Sonnax Industries, Inc. v. Tri Component Products Corp.Court of Appeals for the Second Circuit · 1990
- City of New York v. Exxon Corp.Court of Appeals for the Second Circuit · 1991
- In Re Pioneer Commercial Funding Corp.United States Bankruptcy Court, S.D. New York · 1990
- Spano v. O'HaraNew York Court of Appeals · 1988
- I. Burack, Inc. v. BurackAppellate Division of the Supreme Court of the State of New York · 1988
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3Cited by3 opinions
- In Re LeibowitzUnited States Bankruptcy Court, S.D. New York · 1992
- In Re RF Cunningham & Co., Inc.United States Bankruptcy Court, E.D. New York · 2006
- Ditech Holding CorporationUnited States Bankruptcy Court, S.D. New York · 2022