E.D.N.C.: In re Clark- In Rem Relief; Stay Pending Appeal

Summary: The bankruptcy court granted the Motion for in rem relief sought by Wells Fargo pursuant to 11 U.S.C. § 362(d)(4), as to Mr. Clark and his wife, further barring Mr. Clark from filing any bankruptcy in the Eastern District of North Carolina for one year. In denying the Mr. Clark’s motion for stay pending appeal and for a writ of supersedes, the district denied such finding the Mr. Clark had not made a clear showing that he had a likelihood of success in the appeal and agreeing with the bankruptcy court that Mr. Clark would not suffer irreparable harm in the absence of a stay, as he had been in default on the mortgage for 4.5 years. Commentary: The five previous bankruptcies filed by Mr. Clark and his wife, while probably a significant factor in granting the relief from stay in this case,  did seem to provide Mr.  Clark a wealth of pleadings to re-use in this case. For a copy of the opinion, please see: Clark- In Rem Relief; Stay Pending Appeal