Automatic Stay of Proceedings in Bankruptcy

The video tutorial explains the stay of proceeding power granted by Section 362 of the Bankruptcy Code, which halts all collection efforts against a debtor in possession. It covers exceptions where creditors can seek relief from the stay, particularly in cases involving secured creditors with no equity in the property. The tutorial also discusses general exceptions for cause and notable exceptions like paternity, alimony, and government actions. It introduces tests like the pecuniary interest test and public interest test to determine if government actions should be stayed. The video concludes with a summary of the general rules and exceptions.

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