In re Snead

Ruling: 
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.
Issue: 
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Consumer case opionion summary, case decided on April 01,2008, LexisNexis #0508-078