adequate protection

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. . 1996.

adequate protection
USA
The 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. . 2010.

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  • protection — noun ADJECTIVE ▪ adequate, effective, good, great ▪ added, additional, extra ▪ special ▪ …   Collocations dictionary

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