In Re Bishop Financial Corporation, Debtor.bishop Financial Corporation, Appellant, v. First Nationwide Bank, Appellee, 59 F.3d 174 (9th Cir. 1995)Annotate this Case
Before: WALLACE, Chief Judge, and KOZINSKI and RYMER, Circuit Judges.
The plain language of the bankruptcy court's order states that the automatic stay "is annulled effective as of the bankruptcy filing." ER 16. We agree with both the bankruptcy court and the Bankruptcy Appellate Panel that the effect of this language was to grant First Nationwide Bank retroactive relief from the stay. As the BAP concluded, then, "there was no stay in effect at the time of the foreclosure sale and FNB's foreclosure sale and subsequent acts ... could not violate the stay." ER 111; see In re Schwartz, 954 F.2d 569, 573 (9th Cir. 1992). Because the bankruptcy court's order precluded Bishop Financial from recovering damages, the adversary proceeding was properly dismissed with prejudice.