test folder

66 from such order if it can show that circumstances have changed or for good cause after notice and a hearing. Id. A bankruptcy court must rule on a motion to lift the automatic stay within thirty days of the filing thereof or the stay is automatically terminated. 11 U.S.C. § 362(e)(1). However, the thirty-day period can be extended by consent of the parties. Id. Where a court has held a preliminary hearing on a request for relief from the stay, the final hearing must be held within thirty days from the conclusion of the preliminary hearing. Id. If the debtor is an individual, the automatic stay terminates sixty days after a request for relief from the stay is made unless the court makes a final decision prior thereto or the time period is extended by agreement of all parties-in-interest or by the court for good cause. 11 U.S.C. § 362(e)(2). An order granting relief from the automatic stay is stayed for fourteen days after the entry of the order unless the court orders otherwise. F ED. R. BANKR. P. 4001(a)(3). In limited circumstances, such as when the facts indicate that a party's interest in property will be irreparably harmed before there is an opportunity for notice and a hearing, the court may grant relief from the stay without requiring formal, prior notice of a hearing or even a hearing itself. 11 U.S.C. § 362(f). However, according to Bankruptcy Rule 4001, the movant must certify what efforts have been made to give notice, explain why notice should not be required, and give oral notice immediately after the relief has been obtained. According to Bankruptcy Rule 4001(a)(2), the party adverse to the movant who obtained relief from the automatic stay can move for reinstatement of the stay after notice is given to the movant. D. Claims in Bankruptcy 1. Definition of "Claim" The Bankruptcy Code defines the term "claim" in a very broad manner. According to Section 101(5)(A), the term "claim" means any "right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured,

• Cover