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IN RE ALYUCAN INTERSTATE CORP.

Bankruptcy No. 81-00089, Civ. No. 81-0383.

12 B.R. 803 (1981)

In re ALYUCAN INTERSTATE CORP., Debtor. BANKERS LIFE INSURANCE COMPANY OF NEBRASKA, Plaintiff, v. ALYUCAN INTERSTATE CORP. and Stewart L. Grow, Jr., Defendants.

United States Bankruptcy Court, D. Utah.

July 16, 1981.

Attorney(s) appearing for the Case

Anna W. Drake, Roe & Fowler, Salt Lake City, Utah, for debtor.

William Thomas Thurman, McKay, Burton, Thurman & Condie, Salt Lake City, Utah, for trustee.

Kim R. Wilson and A. Dennis Norton, Snow, Christensen & Martineau, Salt Lake City, Utah, for Bankers Life Ins. Co. of Nebraska.

INTRODUCTION AND BACKGROUND

RALPH R. MABEY, Bankruptcy Judge.

This case raises the question whether an "equity cushion" is necessary to provide adequate protection under 11 U.S.C. Section 362(d)(1).1 This Court concludes that it is not.

On January 14, 1981, Alyucan Interstate Corporation (debtor), a construction and real estate development firm, filed a petition under Chapter 11 of the Code. On May 4, Bankers Life Insurance...

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