Case Summary:
Creditor Federal Land Bank's motion for relief from stay is denied. Creditor's contention that exclusive method of providing adequate protection on mortgaged farmland is to pay secured creditor the reasonable rental value of that land is in error. 11 U.S.C. § 1205 provides four alternative methods for providing adequate protection in chapter 12 cases. Debtor is complying with § 1205(b)(1) by making monthly cash payments to an escrow account to protect against any decrease in value of property securing creditor's claim.
Statue/Rule References:
11 U.S.C. § 362(d) -- Relief From Stay
11 U.S.C. § 1205(b) -- Adequate Protection
Key Terms:
Adequate Protection
Relief From Stay
File:
Judge:
Date:
Wednesday, October 28, 1987