Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Page 17
Page 18
Page 19
Page 20
8BankruptcyStayContinuedfromPage5thetrialjudgeisunavailableorthattherequestwasdeniedbythetrialjudge.3ADiscretionaryStayIsOnlyIssuedinExceptionalSituationsDiscretionarystaysarerare.Whilethepowertomaintainthestatusquopendingappealshouldal-waysbeexercisedwhenanyirremediableinjurymayresultfromtheeffectofthedecreeasren-dered...thispowershouldbesparinglyem-ployedandreservedfortheexceptionalsitua-tion.4Provinganexceptionalsituationwarrantingtheimpositionofastayisnotaneasytaskandre-quiresthesupportofadmissibleevidence.Themotionforstaypendingappealmustbeaccompa-niedbydeclarationsunderpenaltyofperjuryin-troducingtherelevantdocumentsandcourttran-scriptsoftherelevantproceedings.Simplyprovidingyouropinionasanattorneyforapartyastowhyitisimportantthatthematterbestayedisnotsufficient.TheFourWymerFactorsThatMustBeMettoObtainaStayThefourfactorsthatmustbeweighedbytheBankruptcyCourttodeterminewhethertograntadiscretionarystayare1whethertheappellantislikelytosucceedonappeal2whethertheappel-lantwillsufferirreparableinjury3whetheroth-erinterestedpartieswillbesubstantiallyharmedifthestayisissuedand4theeffectofthestayonthepublicinterest.5Whenaddressingthefirstfactorofthelikelihoodofsuccessonthemeritsoftheappealthestandardofreviewonappealshouldbetakenintoconsider-ation.Anabuseofdiscretionstandardappliesinmostappealsandisaveryhighstandardtomeet.Thisportionofthemotionforstaywilloftenbeextensiveandasthoroughlyresearchedasanap-pellantsopeningbrief.DenialofaRequestforStayisReviewedUnderTheAbuseofDiscretionStandardIfaBankruptcyCourtdeniesamotiontostaythecourtaddressingtheappealmayonlyreviewthedenialforanabuseofdiscretion.Itiswell-settledthatwherethelowerbankruptcycourtdeniesamotionforastaythereviewislimitedtowhetherthelowerbankruptcycourtabuseditsdiscretion.6Discretionwillbefoundtohavebeenabusedwhenthejudicialactionisarbitraryfancifulorunreasonablewhichisanotherwayofsayingthatdiscretionisabusedonlywherenoreasonablemanwouldtaketheviewadoptedbythetrialcourt.7InordertoevaluatewhetherornottheBankruptcyCourtabuseditsdiscretionthereviewingcourtmustevaluatethestaymotiononthesamegroundsastheBankruptcyCourtsevaluationofthestaymotion.Toallowotherwisewoulddistortthedelicatebalancebetweentrialandap-pellatelevelsanddenyrecognitionoftheirrespec-tiverolesalltothedetrimentofthejudicialsys-temandofthoseitserves.8Itis...importanttotheproperlyfunctioningbankruptcycourtthatthetrialjudgesrulingsonstayspendingappealbedisturbedonlyintheeventoferrororabuseofdis-cretion.9EstablishinganAdequateRecordintheBankruptcyCourtIsCriticalWithanabuseofdiscretionstandarditiscriticalthatthereviewingcourtbeprovidedanadequaterecordastothediscretionutilizedbytheBank-ruptcyCourtinadenialofamotionforstay.WithoutarecordbeforethereviewingcourtastothediscretionutilizedbytheBankruptcyCourtindenyingamotionthereviewingcourtcannotevenstartitsanalysisofthelowercourtsrulingasre-quiredbyBankruptcyRule8005.Withoutanadequaterecordofthediscretionuti-lizedbytheBankruptcyCourtindenyingamo-tionthereviewingcourtwillsummarilyaffirmtheBankruptcyCourtsruling.10ContinuedonPage13