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Revision as of 06:29, 2 December 2024

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Area 1106 of the Insolvency Code requires the trustee to file a strategy "as soon as possible" or, additionally, to submit a report discussing why a plan will certainly not be submitted or to advise that the case be converted to another phase or disregarded.

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On request of a financial institution with an insurance claim protected by the single asset realty and after notification and a hearing, the court will approve remedy for the automated stay to the creditor unless the debtor files a viable strategy of reorganization or starts making interest payments to the lender within 90 days from the day of the declaring of the situation, or within 30 days of the court's determination that the case is a single property realty instance.

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