KBC BANK, N.V. v. CAPITOL LAKES, INC., 16-cv-468-wmc. (2016)
Court: District Court, E.D. Wisconsin
Number: infdco20160713h98
Visitors: 10
Filed: Jul. 12, 2016
Latest Update: Jul. 12, 2016
Summary: ORDER WILLIAM M. CONLEY , District Judge . In light of some likelihood of success, coupled with the threat of irreparable harm to the appellants if the reorganization plan were to go into effect today, and the likelihood that a posted bond would address any harm to the appellee caused by a short stay, the court concludes that a short stay is appropriate conditioned on the posting of a bond in the amount of $200,000 to defray lost opportunity costs should the stay prove unjustified. Accord
Summary: ORDER WILLIAM M. CONLEY , District Judge . In light of some likelihood of success, coupled with the threat of irreparable harm to the appellants if the reorganization plan were to go into effect today, and the likelihood that a posted bond would address any harm to the appellee caused by a short stay, the court concludes that a short stay is appropriate conditioned on the posting of a bond in the amount of $200,000 to defray lost opportunity costs should the stay prove unjustified. Accordi..
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ORDER
WILLIAM M. CONLEY, District Judge.
In light of some likelihood of success, coupled with the threat of irreparable harm to the appellants if the reorganization plan were to go into effect today, and the likelihood that a posted bond would address any harm to the appellee caused by a short stay, the court concludes that a short stay is appropriate conditioned on the posting of a bond in the amount of $200,000 to defray lost opportunity costs should the stay prove unjustified. Accordingly,
IT IS ORDERED that:
1) Appellants KBC Bank, N.V. and Santander Bank, N.A.'s joint motion to stay pending appeal (dkt. #2) is GRANTED.
2) Appellants' motion to expedite hearing on motion to stay (dkt. #3) is GRANTED.
3) Implementation of the reorganization plan approved by the bankruptcy court is STAYED pending expedited review of appellants' appeal in this case and in No. 16-cv-266.
4) The entry of the stay is conditioned on appellants' posting of a bond in the amount of $200,000 by Friday, July 15, 2016.
Source: Leagle
