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Sunset of standard language in stay relief orders

Friday, May 1, 2020

After a review of standard language found in stay relief orders, the judges of the Court have determined that an update is warranted.  The following or similar language is no longer required in orders submitted by counsel and will be stricken from court forms:

“any funds received from the disposition of the collateral in excess of all liens, costs, and expenses will be paid to the trustee or the estate.” Should the facts of a case warrant relief regarding excess proceeds, nothing prevents a party in interest from demanding relief in a responsive pleading or negotiating similar terms.