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FRBP 8005 Stay Pending Appeal (Judge Gargotta)

Spillman v. American Bank (October 29, 2010)
Issue: Should the Court grant a Motion to Stay Pending Appeal which stays a judgment ordering the disbursement of the balance of a certificate of deposit which the Movant claims is collateral on a deficiency claim?
Holding: The Court finds that the Movant Fire Eagle did not make a sufficient showing that (1) it would suffer irreparable harm without the imposition of the stay, (2) the third party owner of the certificate of deposit would not suffer substantial harm as a consequence of the stay, (3) the public interest would be served by granting the stay, and (4) there was a likelihood of success on the merits. The Court finds that the Defendant’s stay pending appeal should be denied.