Order Granting West Virginia Economic Development Authority Relief from the Automatic Stay to Foreclose — In re Panthera Enterprises, LLC, Case 2:19-bk-00787, Doc. 323 (Filed 04/20/21)

Date: 2021-04-20

Summary

An order filed April 20, 2021 as Doc 323 in In re: Panthera Enterprises, LLC, Chapter 7 BK No. 2:19-bk-00787, in the U.S. Bankruptcy Court for the Northern District of West Virginia, granting the West Virginia Economic Development Authority (WVEDA) relief from the automatic stay to foreclose against the debtor's real property in Hardy County, West Virginia. The court finds cause because the debtor waived objection to the motion prepetition, the property is not necessary to an effective reorganization and the debtor has no equity in it. It also finds that WVEDA's Credit Line Deeds of Trust and Fixture Filings cover all fixtures, buildings and improvements, including the Modular Units. Citing 11 U.S.C. § 365(d)(1) and (2), the order lifts the stay under 11 U.S.C. § 362 so WVEDA may pursue remedies including foreclosure. The order is three pages.

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Cite this document

“Order Granting West Virginia Economic Development Authority Relief from the Automatic Stay to Foreclose — In re Panthera Enterprises, LLC, Case 2:19-bk-00787, Doc. 323 (Filed 04/20/21).” Original at ecf.wvnb.uscourts.gov, dated 2021-04-20. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2021-04-20-movant-v-panthera-enterprises-llc/, SHA-256 db4ed17435e12d150ab5890edea904f4f7761c3e196a50260fb39c695a1f4028.

Full text

No. 2:19-bk-00787       Doc 323    Filed 04/20/21   Entered 04/20/21 13:35:25     Page 1 of 3




                    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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No. 2:19-bk-00787      Doc 323      Filed 04/20/21     Entered 04/20/21 13:35:25         Page 2 of 3

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.




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No. 2:19-bk-00787      Doc 323     Filed 04/20/21     Entered 04/20/21 13:35:25      Page 3 of 3

       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.




Drafted and Submitted by:

/s/ Debra Lee Allen
Debra Lee Allen, WVSB # 9838
Spilman Thomas & Battle, PLLC
48 Donley Street, Suite 800
Morgantown, West Virginia
(T) 304.216.5835
dallen@spilmanlaw.com
Attorney for West Virginia Economic Development Authority




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