“ADEQUATE PROTECTION”

“The debtor in possession must provide any creditor who holds a lien on such property with adequate protection. In other words, the creditor’s secured position must be protected and not harmed by the use of the creditor’s collateral.” “Relief fashioned to protect the value of a secured creditor’s lien so it does not diminish during the bankruptcy proceeding. This relief can take the form of periodic payments, interest payments, a replacement lien on other property, or any other form determined by the court to be adequate.”

In this case, under the despotic rulings of Judge Cornelius Blackshear, and surviving his retirement from the bench, the creditors have been denied adequate protection. The debtor falsely claimed that the creditor had violated the automatic stay and had evicted forty families. Although totally fabricated in a conspiracy, and the creditors were able to provide documentary and pictorial evidence to refute this blatantly fraudulent claim, the court ignored the evidence, and ordered a punitive and completely inadequate protection…such that after four years of debtor in possession and subsequent eviction, the property was lost in a foreclosure.