UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF FLORIDA

Fort Lauderdale Division

www.flsb.uscourts.gov

NO RUST REBAR, INC., Case No. 21-12188-PDR

a Florida corporation, Chapter 11 Sub V

 Debtor-in-possession. /

OPPOSITION TO MOTION FOR ADEQUATE PROTECTION

(Hearing set for April 22, 2021, at 10:30 a.m. on ECF 30]

NO RUST REBAR, INC., a Florida corporation (hereinafter “Debtor”)

opposes the motion of Green Tech Development, LLC [ECF 30] seeking adequate

protection (the “Motion”), and says:

1. The Debtor agrees with the assertions in paragraphs 1 through and including

4, and paragraph 6 of the Motion.

2. The Debtor’s asserted equitable ownership of commercial real property has

been the subject of a case in the Circuit Court of Broward County, Florida

since December 22, 2016, over 4 years ago. That case was removed to this

Court and is pending under Adv. Pro. No. 21-01111-PDR (“0111"),

currently set for a status conference on May 20, 2021, at 10:30 a.m.

3. Pursuant to an agreed order in 0111, the Debtor posted a cash bond in the

sum of $300,000, which presumably stands to protect the interests of Green

Tech in the event that the Debtor does not prevail in obtaining title to the

property. The bond order is attached as Exhibit A hereto. The joint notice

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of compliance is attached as Exhibit B hereto. An order requiring the bond

to be transferred to escrow is attached as Exhibit C.

4. Within 0111 is pending Green Tech’s Amended Motion for Summary

Judgment [ECF 6] regarding the Debtor’s suit for specific performance, to

force Green Tech to convey title of the subject commercial property to the

Debtor.)

5. It has been assumed that at some point this Court will enter an order

establishing the procedures and deadlines for a determination of the merits

of Green Tech’s Motion for Summary Judgment, to which the Debtor fully

intends to file a Cross-Motion seeking summary judgment in its favor.

6. Attached to Green Tech’s Motion for Adequate Protection are many of the

very documents upon which the Debtor shall rely to prove its case for

specific performance.

7. Also pending before this Court is the removed Circuit Court Case1 wherein

Green Tech is the Plaintiff seeking ejectment of the Debtor since November

9, 2017, still unresolved by the Circuit Court of the 17th Judicial Circuit, in

1

 Adv. Pro. No. 21-01112-PDR (“01112").

2

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and for Broward County, Florida2

, after its third anniversary.

8. In its Schedules [ECF 19, p. 7/37, line 55.1], the Debtor has listed an

equitable interest in the commercial real property which is the subject of

both removed proceedings.

9. The key to both removed proceedings is a determination of the Debtor’s

interest in the commercial real property.

10. A motion is pending to consolidate both removed proceedings [ECF 10 in

0111], which is set for hearing on May 20, 2021 at 10:30 a.m. [ECF11, in

0111].

11. Green Tech was unsuccessful in obtaining an order of the Circuit Court in

0111 to require the Debtor to pay rent.

12. Green Tech admits that there is no landlord-tenant relationship between it

and the Debtor.

13. Green Tech’s Motion for Adequate Protection is an attempt to “end-run” the

pending removed proceedings, and presumes that Green Tech will prevail.

14. The Debtor is confident that this Court will promptly resolve the issues

raised in the removed proceedings, and determine finally who own the

2

 Circuit Court Case No. CACE 17-20467 (transferred from Case No CACE

17-14985).

3

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commercial property, after which the natural consequences will flow. Until

resolution of the ownership of the commercial property, it is premature to

require the Debtor to adequately protect the unproven interests of Green

Tech, which already has a bond posted to protect its alleged interests.

15. As to the specific harms asserted by Green Tech:

a. Nothing prevents Green Tech from paying the real property taxes on

the property it claims as its own3; and

b. The reason for the continuing code violations is Green Tech’s failure

and refusal to join with the Debtor in obtaining the permits needed to

remediate the matters underlying the violations.

WHEREFORE, No Rust Rebar, Inc. requests entry of an order denying the

motion of Green Tech Development, LLC [ECF 30] seeking adequate protection,

or deferring ruling and considering the Motion within 0111 after a determination

of the issues in the removed proceedings.

CERTIFICATE OF SERVICE

I HEREBY CERTIFY that a true and correct copy of the foregoing has been

served by ECF on April 20, 2021, to all parties receiving electronic notice,

including Stacy H. Bressler, sbressler@aol.com.

3

 The Debtor paid the real property taxes for 2016 and 2017, and is willing

to carve out of the posted bond sufficient sums to pay the outstanding taxes so

long as the Debtor is noted as the remitter of such taxes.

4

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Respectfully submitted,

FLORIDA BANKRUPTCY GROUP, LLC

4121 N. 31st Avenue

Hollywood, Florida 33021-2011

954.893.7670/954.252-2540 Fax

BankruptcyLawyer@aol.com (Direct email)

KGPAECMF@gmail.com (Service email)

By: s/ Kevin C Gleason

Fla Bar No. 369500

5

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Exhibit A

Bond Order

6

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Exhibit B

Joint Notice of Compliance

7

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Exhibit C

Order Transferring Bond to Escrow

8

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