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Strategy for the Secured Creditor in a Single Asset Real Estate Case

In this article, William Hawkins examines Bankruptcy Code § 362(d)(3), which provides unique grounds for relief from the automatic stay in bankruptcy by permitting a creditor secured by a debtor’s “single asset real estate” to pursue an act against the property as early as 90 days after the case’s filing. He discusses how to take full advantage of this provision, however, also warns that secured creditors should carefully manage the dual time frames set forth in this Bankruptcy Code section.

William Hawkins is a partner in the Bankruptcy, Restructuring and Creditors' Rights Group and is based in the New York office. He can be reached at 212.407.4126.

This article was first printed in the April edition of The Bankruptcy Strategist. Permission for article reprint has been granted.