Unrepentant Lender Slammed with $260,000 in Damages for an ‘Egregious’ Stay Violation

For an egregious violation of the automatic stay that “severely injured” the debtor, Chief Bankruptcy Judge Laura T. Beyer of Charlotte, N.C., imposed $260,000 in sanctions, given that the lender’s “behavior displayed a high degree of reprehensibility.”

The October 6 opinion by Judge Beyer shows how a court may quantify actual and punitive damages when the case on damages was not well presented by the debtor’s counsel. She said that “a more successful litigant could have shown the [debtor’s] entitlement to a larger amount of damages.”

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