论担保物权在破产程序中的实现（上）/许德风(15)
[30] In re Elmira Litho, Inc., 174 B.R. 892, 898-900 (Bankr. S.D.N.Y. 1994). 在该案中，原告关于解除自动中止的请求被法院驳回，其重要理由之一是，评估师在法庭辩论中不能准确解释诸如“继续经营价值”（going concern value）、“折现率”（discount rate）等概念。
[31] „What this requires is not merely a showing that if there is conceivably to be an effective reorganization, this property will be needed for it; but that the property is essential for an effective reorganization that is in prospect. This means, as many lower courts, including the en banc court in this case, have properly said, that there must be ‘a reasonable possibility of a successful reorganization within a reasonable time.’” United Saving Association v. Timbers of Inwood Forest Associates, 484 U.S. 365, 375-376 (1988).
[32] Tracht, Contractual Bankruptcy Waivers: Reconciling Theory, Practice, and Law, 82 Cornell L. Rev. 301, 311 ff. (1997).
[33] “In many cases, some form of stay is essential to the existence of an efficient bankruptcy system. …creditors have an incentive to collect debts promptly in state courts rather than coordinate collection efforts with other creditors. The process of individual collection under local law must be halted for a bankruptcy system to function.” Schwartz, A Contract Theory Apporach to Business Bankruptcy, 107 Yale L.J. 1807, 1841 (1998); “Foreclosure contracts, or stay waivers, should be unenforceable.” Schwartz, A Normative Theory of Business Bankruptcy, 91 Va. L. Rev. 1199, 1261 (2005).
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