Definition - Noun :
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.
|Based on Merriam-Webster's Dictionary of Law ©2001.
Published under license with Merriam-Webster, Incorporated.