Mission Product Holdings, Inc. v. Schleicher & Stebbins Hotels, No. 19-9004 (1st Cir. 2020)
Annotate this Case
The First Circuit affirmed the order of the bankruptcy court granting creditor Schleicher & Stebbins Hotels, LLC (S&S) relief from an automatic stay imposed by section 362 of the Bankruptcy Code, holding that the bankruptcy court properly granted relief from the automatic stay.
In the bankruptcy proceedings of debtor Old Cold, LLC, Old Cold listed S&S as the only secured creditor and Mission Product Holdings, Inc. as an unsecured creditor. Eventually, S&S filed a motion for relief from the automatic stay imposed in the bankruptcy proceedings, arguing that it had valid, first-priority, perfected liens on the debtor's assets, that the debtor lacked equity in its remaining property, and that the property was not needed to effect a reorganization. The bankruptcy court granted the stay relief motion. Mission appealed. The First Circuit affirmed, holding that the bankruptcy court did not commit clear error in granting relief from the automatic stay.
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.