In a much anticipated ruling, the U.S. Supreme Court decided that the mere retention of estate property after the filing of a bankruptcy petition does not violate the automatic stay imposed by 11 U.S.C. §362(d)(3). Newly appointed Justice Barrett did not take part in the consideration of the case, nor the decision. Of the remaining eight Justices, seven joined the majority opinion authored by Justice Alito, while Justice Sotomayor filed a concurring opinion. In essence, this is a unanimous decision on the issue. City of Chicago. v. Fulton, Sup.Ct. No. 19-357, 592 U.S. ____, 2021 U.S. LEXIS 496 (Jan. 14, 2021). Read more
