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Latest revision as of 08:10, 31 December 2024

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But submitting an evidence of insurance claim is not necessary if the financial institution's case is set up (but is not noted as challenged, set, or unliquidated by the debtor) because the debtor's schedules are deemed to constitute proof of the credibility and quantity of those insurance claims.

On demand of a lender with an insurance claim secured by the single asset property and after notice and a hearing, the court will give relief from the automatic keep to the creditor unless the borrower files a practical strategy of reorganization or starts making rate of interest settlements to the creditor within 90 days from the date of the filing of the case, or within 30 days of the court's determination that the instance is a single asset realty situation.

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