In re Snead

Order for adequate protection payments and enjoining debtor-in-possession from using cash collateral was not necessary where sufficient equity cushion existed in security.
Procedural posture: 
The holder of a note and a deed of trust to certain real property securing a promissory note given by debtor-in-possession (DIP) asked the court for relief from stay to enjoin the DIP from using cash collateral based on the holder's claim that it did not have adequate protection. At issue was whether there was adequate protection for the holder's interest.
ABI Membership is required to access the full summary of In re Snead. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on April 01,2008, LexisNexis #0508-078