Order Granting West Virginia Economic Development Authority

Summary

A proposed order filed April 1, 2021 as Doc 310-1 in In re Panthera Enterprises, LLC, BK No. 2:19-bk-00787, a Chapter 7 case in the U.S. Bankruptcy Court for the Northern District of West Virginia, with Aaron C. Amore as Chapter 7 Trustee. It would grant the West Virginia Economic Development Authority's Motion for Relief from the Automatic Stay to foreclose against the debtor's real property in Hardy County, West Virginia, with its fixtures, buildings and improvements. The order would find that cause exists because the debtor waived objection prepetition, that the property is not necessary to an effective reorganization, and that the debtor has no equity in it. It would grant WVEDA relief from the automatic stay imposed by 11 U.S.C. § 362 to pursue its rights and remedies, including foreclosure, and leaves blank the day of entry in April, 2021.

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No. 2:19-bk-00787       Doc 310-1      Filed 04/01/21   Entered 04/01/21 14:02:21    Page 1
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                   IN THE UNITED STATES BANKRUPTCY COURT
                 FOR THE NORTHERN DISTRICT OF WEST VIRGINIA

In re:
                                                    BK No. 2:19-bk-00787
PANTHERA ENTERPRISES, LLC,
                                                    Chapter 7
                              Debtor

Aaron C. Amore, Chapter 7 Trustee


WEST VIRGINIA ECONOMIC
DEVELOPMENT AUTHORITY,

                              Movant
         v.

PANTHERA ENTERPRISES, LLC,

                              Respondent


 ORDER GRANTING WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY
    RELIEF FROM THE AUTOMATIC STAY TO FORECLOSE AGAINST THE
  DEBTOR'S REAL PROPERTY, TOGETHER WITH ALL FIXTURES, BUILDINGS
        AND IMPROVEMENTS THEREON, AT 2506 FISH POND ROAD,
             OLD FIELDS, HARDY COUNTY, WEST VIRGINIA

         The Motion for Relief from the Automatic Stay to Foreclose Against the Debtor's Real

Property, Together with all Fixtures, Buildings and Improvements Thereon, at 2506 Fish Pond

Road, Old Fields, Hardy County, West Virginia ("Motion for Relief") filed by the West Virginia


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Economic Development Authority ("WVEDA"), has come before the Court for consideration.

The Court has reviewed the Motion, any objections filed thereto, as well as the pleadings on file

herein, and has heard the argument of counsel.

       The Court finds that (i) there is cause to grant the Motion for Relief because the Debtor

waived objection to WVEDA's Motion for Relief prepetition, (ii) the Debtor's real property is not

necessary to an effective reorganization of the Debtor, and (iii) the Debtor has no equity in the

real property. The Court also finds that the Credit Line Deeds of Trust and Fixture Filings given

to WVEDA by the Debtor prepetition cover, in addition to the Debtor's real property, all fixtures,

buildings and improvements on the real property, including without limitation the Modular Units

as defined in the Motion for Relief.

       Accordingly, pursuant to 11 U.S.C. § 365(d)(1) and (2), the Motion for Relief is hereby

GRANTED, and it is hereby

       ORDERED, ADJUDGED AND DECREED that the West Virginia Economic

Development Authority is granted relief from the automatic stay imposed by 11 U.S.C. § 362 in

order to pursue all of its rights and remedies under State and Federal law and the pertinent loan

documents against the Debtor's real property at 2506 Fish Pond Road, Old Fields, Hardy County,

West Virginia, as more particularly described in Exhibit A to the Motion for Relief, together

with all fixtures, buildings and improvements thereon, such rights and remedies to include

foreclosure of the same.

       The Clerk is directed to send copies of this Order to Counsel for the West Virginia

Economic Development Authority, the Chapter 7 Trustee, Counsel for the Debtor, and any other

party who has requested to receive notice in this case.

       ENTERED this _____ day of April, 2021.



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