KBC Bank, N.V. et al v. Capitol Lakes, Inc.

Filing 10

ORDER granting 2 Motion to Stay Pending Appeal; granting 3 Motion to Expedite Hearing on Motion for Stay Pending Appeal. Implementation of the reorganization plan approved by the bankruptcy court is STAYED pending expedited review of appellants' appeal in this case and in No. 16-cv-266. The entry of the stay is conditioned on appellants' posting of a bond in the amount of $200,000 by Friday, July 15, 2016. Signed by District Judge William M. Conley on 7/12/2016. (kwf)

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF WISCONSIN
KBC BANK, N.V. and SANTANDER
BANK, N.A.,
Appellants,
v.

ORDER
16-cv-468-wmc

CAPITOL LAKES, INC.,
Appellee.

In light of some likelihood of success, coupled with the threat of irreparable harm
to the appellants if the reorganization plan were to go into effect today, and the
likelihood that a posted bond would address any harm to the appellee caused by a short
stay, the court concludes that a short stay is appropriate conditioned on the posting of a
bond in the amount of $200,000 to defray lost opportunity costs should the stay prove
unjustified. Accordingly,
IT IS ORDERED that:
1) Appellants KBC Bank, N.V. and Santander Bank, N.A.’s joint motion to stay
pending appeal (dkt. #2) is GRANTED.
2) Appellants’ motion to expedite hearing on motion to stay (dkt. #3) is
GRANTED.
3) Implementation of the reorganization plan approved by the bankruptcy court
is STAYED pending expedited review of appellants’ appeal in this case and in
No. 16-cv-266.

4) The entry of the stay is conditioned on appellants’ posting of a bond in the
amount of $200,000 by Friday, July 15, 2016.
Entered this 12th day of July, 2016.
BY THE COURT:
/s/
__________________________________
WILLIAM M. CONLEY
District Judge

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