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In United States bankruptcy law, an automatic stay is an automatic injunction that 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, [1] the stay begins at the moment the bankruptcy petition is filed.
The length of the automatic stay depends on the type of bankruptcy and debts. For Chapter 7 bankruptcy, the automatic stay generally remains in effect until the bankruptcy case is discharged or ...
The automatic stay in bankruptcy is the result of Section 362 of the Bankruptcy Code that requires all collection proceedings to stop. There are exceptions, of course, but generally this is the term for the "relief" from collection proceedings a debtor receives by filing the bankruptcy with the bankruptcy clerk's office.
The Civil Code governs private law in the Philippines, including obligations and contracts, succession, torts and damages, property. It was enacted in 1950. Book I of the Civil Code, which governed marriage and family law, was supplanted by the Family Code in 1987. [2] Republic Act No. 6657: Comprehensive Agrarian Reform Code
Bankruptcy Code Section 362(k) authorizes the imposition of punitive damages for a willful violation of the automatic stay. In determining whether to impose punitive damages, several bankruptcy ...
An important feature applicable to all types of bankruptcy filings is the automatic stay. [48] The automatic stay means that the mere request for bankruptcy protection automatically halts most lawsuits, repossessions, foreclosures, evictions, garnishments, attachments, utility shut-offs, and debt collection activity.
Adversary proceedings may be filed by the bankruptcy trustee or by other parties. For example, a creditor may file an adversary proceeding to object to the debtor's discharge. Or, a debtor may commence an adversary proceeding against a creditor as a response to a violation of the automatic stay.
"Administrative matters" before the Supreme Court of the Philippines. arguendo: asserting Latin "For the sake of argument", as in, "Even arguendo that R.A. 10175 applies, this case still should be dismissed due to a lapsed prescriptive period." arresto mayor: major detention Spanish See Revised Penal Code § Penalties. arresto menor: minor ...