Banks Refusal to Release Repossessed Vehicle Violates Stay According to Latest ABI Poll

Contact: John Hartgen

             703-739-0800

            

jhartgen@abiworld.org

BANK’S
REFUSAL TO RELEASE REPOSSESSED VEHI
w:st='on'>CLE VIOLATES “STAY,” ACCORDING TO

LATEST ABI
POLL

June 4, 2007, Alexandria,
Va. —A majority of respondents to
w:st='on'>ABI’s latest online poll agreed (64
percent) that a bank’s refusal to release a repossessed vehicle
upon receiving notice of a debtor’s chapter 13 filing constitutes
a willful stay violation. Forty-eight percent “agreed
strongly,” while 16 percent “somewhat agreed” that a
bank is willfully violating a chapter 13 debtor’s automatic stay
for refusing to release a repossessed vehicle after receiving notice of
the debtor’s bankruptcy filing.

Twenty-seven percent of
respondents, however, thought that it is not a willful stay violation
for a bank to refuse releasing a repossessed vehicle after it had
received a debtor’s chapter 13 filing.  Eighteen percent
“strongly disagreed” that a bank’s refusal to release
a repossessed vehicle upon receiving notice of a debtor’s chapter
13 filing was a willful stay violation, while 9 percent “disagreed

somewhat.” Seven percent of the respondents did not know or had no

opinion on the issue.

size='3'>ABI members and members of the public
were welcome to submit their response to the statement: “A
bank’s refusal to release a repossessed vehicle upon receiving
notice of a debtor’s chapter 13 filing constitutes a willful stay
violation. (Commercial Bank v. Hundley, D. Kan. No.
06-1038-WEB)” The latest
w:st='on'>ABI Quick Poll was open to the public for
voting from May 25-31.

size='3'>ABI’s weekly Quick Poll is posted

on ABI’s home page,
title='http://www.abiworld.org/'
href='http://www.abiworld.org/'>www.abiworld.org.
w:st='on'>ABI members and the public are invited to
respond to a question on a timely bankruptcy or insolvency issue. Visit

href='http://www.abiworld.net/quickpoll/'>
color='#0000ff'>http://www.abiworld.net/quickpoll/ to access
the results of previous ABI
Quick Polls.

###

size='3'>ABI is the largest multi-disciplinary,
nonpartisan organization dedicated to research and education on matters
related to insolvency. ABI
was founded in 1982 to provide Congress and the public with unbiased
analysis of bankruptcy issues. The
w:st='on'>ABI membership includes nearly 11,500
attorneys, accountants, bankers, judges, professors, lenders, turnaround

specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit www.abiworld.org.
For additional conference information, visit
title='http://www.abiworld.org/conferences.html'
href='http://www.abiworld.org/conferences.html'>
color='#0000ff'>http://www.abiworld.org/conferences.html.