Sunteți pe pagina 1din 3

11-22820-rdd

Doc 399

Filed 08/09/12

Entered 08/09/12 18:28:06 Pg 1 of 3

Main Document

HEARING DATE: AUGUST 15, 2012 HEARING TIME: 10:00 A.M. TARTER KRINSKY & DROGIN LLP Attorneys for The Christian Brothers Institute, et al. Debtors and Debtors-in-Possession 1350 Broadway, 11th Floor New York, New York 10018 (212) 216-8000 Scott S. Markowitz, Esq. UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ------------------------------------------------------------------- x In re: : : THE CHRISTIAN BROTHERS INSTITUTE, et al., : : Debtor. : ------------------------------------------------------------------- x

Chapter 11 Case No.: 11-22820 (RDD) (Jointly Administered)

DEBTORS STATEMENT WITH RESPECT TO VINCENZO GRILLOS MOTION TO LIFT THE AUTOMATIC STAY TO: THE HONORABLE ROBERT D. DRAIN UNITED STATES BANKRUPTCY JUDGE The Christian Brothers Institute (CBI), one of the above-captioned debtors and debtors-in-possession (the Debtor), hereby files this statement of no objection (the Statement) with respect to Vincenzo Grillos motion to lift the automatic stay to proceed with a personal injury lawsuit solely to the extent of insurance coverage (the Motion). GENERAL BACKGROUND 1. On April 28, 2011 (the Petition Date), the Debtor commenced its Chapter 11

case by filing a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code (the Bankruptcy Code). Pursuant to 1107(a) and 1108 of the Bankruptcy Code, the Debtor continues to operate as a debtor-in-possession. No trustee has been appointed. 2. On May 11, 2011, the United States Trustee appointed an Official Committee of

{Client/001718/BANK376/00525051.DOC;1 }

11-22820-rdd

Doc 399

Filed 08/09/12

Entered 08/09/12 18:28:06 Pg 2 of 3

Main Document

Unsecured Creditors (the Committee). The Committee retained Pachulski Stang Ziehl & Jones LLP as its counsel, which was approved by an order of this Court dated July 14, 2011. 3. CBI is a domestic not-for-profit 501(c)(3) corporation organized under

102(a)(5) of the New York Not-for-Profit Corporation Law. CBI was formed in 1906 pursuant to Section 57 of the then existing New York Membership Law. The Not-for-Profit Corporation Law replaced the Membership Law effective September 1, 1970. The purpose for which CBI was, and continues to be, formed was to establish, conduct and support Catholic elementary and secondary schools principally throughout New York State. As a not-for-profit corporation, its assets, and/or income are not distributable to, and do not inure to, the benefit of its directors or officers. CBI depends upon grants and donations to fund a portion of its operating expenses. THE LIFT STAY MOTION 4. Vincenzo Grillo (Grillo) seeks relief from the automatic stay to commence a

personal injury lawsuit against the Debtor based upon his claim that he was injured as a result of hazardous conditions while he was at a house owned by the Debtor near Iona College. Grillo asserts that he was an employee of Iona College and was on the Debtors premises at 33 Beechmont Drive, New Rochelle, New York when he sustained serious personal injuries, including a broken hip that required reconstructive surgery. 5. The Debtor disputes that Grillos injuries were caused by any hazardous conditions

at the Debtors property. However, as set forth in Grillos motion, the Debtor does maintain general liability insurance, which would cover this type of injury. Grillos motion asserts that he is only seeking recovery up to the amount of the available insurance and is willing to waive any claim under the policys applicable deductible. Grillos motion also asserts that he will limit his claim only to available insurance proceeds.

{Client/001718/BANK376/00525051.DOC;1 }

11-22820-rdd

Doc 399

Filed 08/09/12

Entered 08/09/12 18:28:06 Pg 3 of 3

Main Document

6.

Based upon Grillos representations in the Motion, and the Debtors understanding

of this Courts general view with respect to these types of lift stay motions that limit relief to insurance proceeds and otherwise do not seek monetary relief against the Debtor, the Debtor consents to the relief requested by Grillo in his Motion. WHEREFORE, the Debtor respectfully requests that the Court enter an order lifting the automatic stay to allow Grillo to proceed only against available insurance proceeds, and otherwise requiring Grillo to withdraw his proof of claim, and such other and further relief as this Court deems just and proper. Dated: New York, New York August 9, 2012 TARTER KRINSKY & DROGIN LLP Attorneys for The Christian Brothers Institute, et al. Debtors and Debtors-in-Possession By: /s/ Scott S. Markowitz Scott S. Markowitz 1350 Broadway, 11th Floor New York, New York 10018 (212) 216-8000

{Client/001718/BANK376/00525051.DOC;1 }

S-ar putea să vă placă și