Mr Bruce Bennett

Bruce Bennett


Insolvency & Restructuring

Supreme Court: mere retention of property does not violate automatic stay
USA | 09 April 2021

In January 2021 the Supreme Court held that a creditor in possession of a debtor's property does not violate the automatic stay, specifically Section 362(a)(3) of the Bankruptcy Code, by retaining the property after the filing of a bankruptcy petition. The court's decision provides important guidance to bankruptcy courts, practitioners and parties on the scope of the automatic stay's requirements.