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2016-04-14_GENERAL DOCUMENTS - C1982056 (5)
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2016-04-14_GENERAL DOCUMENTS - C1982056 (5)
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Last modified
8/24/2016 6:20:45 PM
Creation date
4/18/2016 12:14:11 PM
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Template:
DRMS Permit Index
Permit No
C1982056
IBM Index Class Name
General Documents
Doc Date
4/14/2016
Doc Name
Motion of the Debtors And Debtors in Possession
From
United State Bankruptcy Court
To
Drms
Permit Index Doc Type
General Correspondence
Email Name
MPB
JRS
JLE
Media Type
D
Archive
No
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Case 16-42529 Doc 23 Filed 04/13/16 Entered 04/13/16 11:20:44 Main Document <br />Pg 17 of 32 <br />immediate and irreparable harm to the estate pending a final hearing." Fed. R. Bankr. P. 4001(c). <br />Bankruptcy Rule 6003(b) provides, in relevant part, that "[e]xcept to the extent that relief is <br />necessary to avoid immediate and irreparable harm, the court shall not, within 21 days after the <br />filing of the petition, issue an order granting ... a motion to use, sell, lease or otherwise incur an <br />obligation regarding property of the estate including a motion to pay all or part of a claim that <br />arose before the filing of the petition." Fed. R. Bankr. P. 6003(b). In other words, where the <br />failure to grant any such requested relief would result in immediate and irreparable harm to the <br />Debtors' estates, the Court may authorize the relief prior to the 22nd day following the Petition <br />Date. Bankruptcy Rule 6004(h) provides that "[a]n order authorizing the use, sale, or lease of <br />property other than cash collateral is stayed until the expiration of 14 days after entry of the order, <br />unless the court orders otherwise." Fed. R. Bankr. P. 6004(h). <br />34. As set forth above and in the First Day Declaration, authorizing the <br />Debtors to continue their Surety Bond Program and granting the other relief requested herein is <br />integral to the Debtors' business operations and necessary to maximize the value of the Debtors' <br />estates, and any failure to do so in the ordinary course of business during the first 21 days of their <br />chapter 11 cases would severely disrupt the Debtors' operations at this critical juncture. <br />Accordingly, the Debtors submit that ample cause exists to justify: (a) the immediate entry of an <br />Interim Order granting the interim relief sought herein pursuant to Bankruptcy Rules 4001(c) and <br />6003(b), to the extent that they apply; and (b) a waiver of the 14 -day stay imposed by <br />Bankruptcy Rule 6004(h), to the extent that it applies, with respect to the order. <br />Reservation of Rights <br />35. Nothing contained herein or in the proposed Interim Order and Final <br />Order is intended or should be construed as: (a) an admission as to the validity or priority of any <br />claim against the Debtors; (b) a waiver of the Debtors' or any party in interest's rights to dispute <br />-17- <br />
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