What does an automatic stay cover on my bankruptcy file? 14 Answers as of July 22, 2011

the automatic stay will stop the property from being foreclosed on. the lender cannot act unless it moves from relief from stay

No. The only circumstance under which it might stop the foreclosure, and I'm not sure that it would, is if you personally owe the money on the mortgages on the corporation's property.

If the property is in your name the filing of the Chapter 13 stays all enforcement actions, including foreclosure.

Only if you are personally a party to the lawsuit

See a lawyer now. Who filed the ch13. Hopefully you did not do this yourself. If your lawyer can't answer this question, get another one. It is hard for me to believe that you, as an individual, did not sign the loan docs on the commercial property. The other part of the question is of concern. You said "commercial properties" as in more than one. There are debt limits in Ch13. What is the total secured debt? If you are pushing the 1m mark the math is critical.

Very interesting and sophisticated question! If the company you own is a corporation or LLC and you are a shareholder then the automatic stay in your personal bankruptcy case does not protect property owned by the corporation or LLC. You have no ownership interest in the property directly. You own the legal entity that owns the real estate. I recently had to research is this issue (in a Chapter 7 case) and would love to have bankruptcy lawyer out there tell me I am wrong and give me a citation supporting that view. However, if you have personal liability for the debts of the corporation or LLC you could argue that the Chapter 13 co-debtor stay applies. Your question certainly requires that you consult with your own lawyer (hopefully your have one since you are doing a Chapter 13 and it would be insane not to have one in a Chapter 13 case).

If you are personally liable on the mortgages then your bankruptcy will likely have an effect on the foreclosure sale. If the only borrower is your company, then your bankruptcy will not stop the foreclosure sale.

The automatic stay pertains to property of the estate. A corporation's assets are not subject to the automatic stay of an individual's filing.

Yes it will stop and creditor actions including foreclosures etc. However as mortgages are secured debts they must be paid through your chap 13 plan. So if you file bk and come up with an acceptable plan you will be able to keep the properties.

Not if your "company" is a separate entity such as a corporation or LLC. If you have an attorney, you need to address your questions to them. If you don't have an attorney, you need one.