Court Weighs In on Treatment of Adequate Protection Payments

, New York Law Journal

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In his Bankruptcy Practice column, John J. Rapisardi. a partner at Cadwalader, Wickersham & Taft, analyzes a recent decision holding that adequate protection payments paid out of a debtor's cash collateral must be applied against a secured creditor's principal amount and thus not reduce that creditor's secured claim if such payments are deemed unnecessary.

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