Bankr. No.:
87-10032
Chapter:
12
Date of Decision:
March 18, 1988
Issue:
(1) In re Ahlers, 794 F.2d 388, 395 (8th Cir. 1987), 1988 WL 17016 (U.S. S.Ct. March 7, l988). Whether creditor FLB's request for adequate protection payments in the form of rental value must wait until the Ahlers foreclosure period has expired before debtor is required to make such payments? (2) Whether FLB is entitled to payments of rent on its real estate collateral as adequate protection under Section 1205?
Ruling:
(1) The Court held no. In re Billy E. Turner, 1988 WL 6412 (Bankr. W.D. Tenn. 1-29-88); Norton, Bankruptcy Law & Practice, Section 87.04 (1981). (2) The Court denied the adequate protection motion. 11 U.S.C. 1205; H. R. Conf. Rep. No. 99-958 99th Cong., 2d Sess. 49-50 (1986); Turner, supra; 3 Norton, Bankruptcy Law & Practice, Sections 87-03 and 87.05 - Stay should not be lifted.
Full Bankruptcy Court Decision:
