- adequate protection
adequate protection n: such action as is judicially determined to protect a secured creditor's interest in property that is part of a bankrupt estate◇ The U.S. Bankruptcy Code offers a list of examples of actions that are predetermined to provide adequate protection. When a court finds that a secured creditor is not adequately protected, the creditor may obtain relief from the automatic stay from creditors' collection attempts that is effected by the debtor's filing for bankruptcy.
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- adequate protection
USAThe right of a secured creditor to receive protection against the decrease in value of its interest in the debtor's property during bankruptcy proceedings. It is also required when the debtor uses, sells or leases a secured creditor's collateral, or if a creditor's lien on the collateral is primed by a senior or equal lien approved by the court in a DIP financing. Such protection may take the form of periodic cash payments or an additional lien, or other relief agreed to by the parties.For further information, see Practice Note, Protecting the Lender's Interests in Bankruptcy: The Remedy of Adequate Protection (www.practicallaw.com/8-382-8989).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
adequate protection — the right of a party with an interest in the debtor s property (such as a secured creditor) to assurance that its interest will not be diminished during the bankruptcy proceedings. (Glossary of Common Bankruptcy Terms) Relief fashioned to protect … Glossary of Bankruptcy
adequate protection — Phrase used in several sections of the Bankruptcy Code to describe protection afforded to holders of secured claims. It is meant to preserve secured creditor s position at the time of bankruptcy. In re Jamaica House, Inc., Bkrtcy.Vt., 31 B.R. 192 … Black's law dictionary
adequate — ad|e|quate W3S3 [ˈædıkwıt] adj [Date: 1500 1600; : Latin; Origin: , past participle of adaequare to make equal , from ad to + aequare to equal ] 1.) enough in quantity or of a good enough quality for a particular purpose = ↑sufficient ≠… … Dictionary of contemporary English
adequate — Sufficient; commensurate; equally efficient; equal to what is required; suitable to the case or occasion; satisfactory. Equal to some given occasion or work. Nissen v. Miller, 44 N.M. 487, 105 P.2d 324, 326 See also adequate care adequate cause… … Black's law dictionary
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protection — noun ADJECTIVE ▪ adequate, effective, good, great ▪ added, additional, extra ▪ special ▪ … Collocations dictionary
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