Bloomberg Law
April 17, 2020, 8:17 PM

Mansion Owner Ditches Virus-Spurred Bankruptcy Suspension Motion

Daniel Gill
Daniel Gill

The owner of a Beverly Hills, Calif., luxury estate has withdrawn his request to suspend his Chapter 11 bankruptcy case after a Los Angeles bankruptcy judge said she lacks authority to do so.

Gennady Moshkovich Thursday withdrew a motion to put the case on hold in light of the coronavirus pandemic. His reorganization plan hinged on selling his multi-million dollar estate within a short time frame, but shelter-in-place and shutdown orders made marketing the property impossible, he said.

The request relied on a rarely used provision of the bankruptcy code, Section 305(a), which allows courts to “mothball” a bankruptcy case ...

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