In Spokane Country Club the bankruptcy process was used to disrupt the collection efforts of plaintiff creditors who had been awarded a judgment and to negate significant policy changes that had been stipulated in a state court proceeding. For more, read Showdown in Spokane: The Spokane Country Club Bankruptcy Case.
As the Devil’s Dictionary of Bankruptcy Terms explains, “indubitable equivalent” is “a catch-all form of adequate protection under the Code requiring that a debtor provide a creditor with something having a value that is the indubitable equivalent of the amount of diminution in value of the creditor’s collateral resulting from its use in the bankruptcy case.” Read the full Devil’s Dictionary definition.
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