- 11 U.S.C.
In re Dennis
Sep
10
2010
Ruling
Debtors in possession granted authority to use cash collateral derived from rental properties with adequate protection granted to mortgagees.
Procedural posture
Debtors, a married couple who were debtors-in-possession (DIPs), sought authority per 11 U.S.C.S. § 361, 11 U.S.C.S. § 362 and 11 U.S.C.S. § 363 to use cash collateral of banks that had asserted interests in certain duplex properties that were owned and operated by DIPs and granting adequate protection to the banks based on their interests therein, which were secured by mortgages thereon.
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Court
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