Narrative Opinion Summary
The court, presided over by Judge Thomas P. Agresti, issued an order on August 22, 2017, granting the Expedited Motion to Dismiss the Chapter 11 Bankruptcy Petition filed by Citizens and Northern Bank. The dismissal is effective as of September 6, 2017. However, if the Debtor files a motion for reconsideration by September 5, 2017, challenging the suitability of Shaner Holding Company as Receiver due to allegations of bias or other impediments, the court may postpone the dismissal's effectiveness and hold an evidentiary hearing focused on the issues raised in that motion.
Legal Issues Addressed
Effectiveness of Dismissal Order in Bankruptcy Proceedingssubscribe to see similar legal issues
Application: The dismissal order was set to become effective on a specific future date, allowing for the possibility of a motion for reconsideration.
Reasoning: The dismissal is effective as of September 6, 2017.
Expedited Motion to Dismiss a Bankruptcy Petitionsubscribe to see similar legal issues
Application: The court granted an expedited motion to dismiss the Chapter 11 Bankruptcy Petition filed by the bank, setting an effective date for the dismissal.
Reasoning: The court, presided over by Judge Thomas P. Agresti, issued an order on August 22, 2017, granting the Expedited Motion to Dismiss the Chapter 11 Bankruptcy Petition filed by Citizens and Northern Bank.
Motion for Reconsideration in Bankruptcy Casessubscribe to see similar legal issues
Application: The debtor is provided an opportunity to file a motion for reconsideration, which could delay the effectiveness of the dismissal and lead to further hearings.
Reasoning: However, if the Debtor files a motion for reconsideration by September 5, 2017, challenging the suitability of Shaner Holding Company as Receiver due to allegations of bias or other impediments, the court may postpone the dismissal's effectiveness and hold an evidentiary hearing focused on the issues raised in that motion.