Oregon > Federal > Bankruptcy Court
Guidelines Regarding Motions To Use Cash Collateral Or To Obtain Credit 541.7 - Oregon
| Guidelines Regarding Motions To Use Cash Collateral Or To Obtain Credit Form. This is a Oregon form and can be used in Bankruptcy Court Federal . |
|
||||||
 Get this form for FREE as a print-only pdf |
|||||||
|
UNITE D STATES BANKRUPTCY COURT FOR THE DISTRI CT OF OREGON GUIDELINE S REGARDING MOTIONS TO USE CASH COLLAT ERAL OR TO OBTAIN CREDIT EACH MOTION FOR COURT APPROVAL TO USE CASH COLLATERAL OR TO OBTAIN CREDIT MUST CLEA RLY EITHER : (1) STATE THAT IT DOES NOT CONTAIN ANY OF THE FOLLOWING PROVISIONS OR (2) IDENTIFY WHICH OF THE FOLLOWING PROVISIONS ARE CONTAINED IN THE MOTION, AND THE JU STIF ICATION FOR THE PROVISION(S). The court will not normally approve the following types of provisions in motions either to use cash collateral (Bankruptcy Code 363(c)(2)) or to obtain credit (Bankruptcy Code 364(c)): 1. Cross-collateralizing prepetition debt with postpetition assets. 2. Findings of fact on matters extraneous to the approval process. (For example, in connection with an application to borrow on a secured basis, a finding that the debtor cannot obtain unsecured credit would be acceptable, whereas a finding that the lender acted in good faith in declaring the prepetition loan in default would not be acceptable.) 3. Provisions or findings of fact that bind the debtor, the estate and/or all parties in interest with respect to the validity, perfection, relative priority or amount of the secured partys lien or debt. This would include, for example, an order approving a provision that the secured partys lien is a first priority lien on the collateral. 4. Any language that characterizes any postpetition payments as payments of interest, fees or costs on a prepetition loan. 5. Waiver of Bankruptcy Code 506(c) right to seek to charge collateral of secured party for the trustees expenses in preserving or disposing of assets for the benefit of the secured party. 6. Granting a security interest in bankruptcy avoiding power causes of action or avoiding power recoveries. 7. Waiver or release by debtor or the estate of any or all claims the debtor/estate may have against the lender/secured party, including waiver of avoiding power causes of action against the lender/secured party or against insiders of the lender/secured party. 8. Waiver by debtor or the estate of the right to seek to prime the secured position of the lender/secured party under Bankruptcy Code 364(d). 9. Priming any other partys lien, without that partys consent or without providing adequate protection.10. Waiver of nonbankruptcy law requirements for perfecting any lien granted by the court as part of postpetition lending/cash collateral use. 11. Automatic relief from the stay of Bankruptcy Code 362(a) upon the occurrence of a default, upon conversion to Chapter 7 or upon appointment of a trustee, without further application to, and order of the court.12. Waiver, effective on default, or expiration of a prior court order, of the debtors right to move for a court order pursuant to Bankruptcy Code 363(c)(2)(B), authorizing the use of cash collateral in the absence of the secured partys consent. 541.7 (9/25/98)
|
|||||||
