Can I read Celotex Bankruptcy Appeal Ruling on EtoBox?
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What is Celotex Bankruptcy Appeal Ruling about?
1) Celotex Corporation appealed a jury verdict in a product liability case while undergoing Chapter 11 bankruptcy. The plaintiff sought reconsideration of the stay of the appeal, arguing a supersedeas bond posted by Celotex prevented application of the automatic stay. 2) The court analyzed the history and purpose of the automatic stay under the Bankruptcy Code. It also examined its prior precedent, Mid-Jersey National Bank, which held the automatic stay did not apply when a bond was posted. However, Mid-J
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