Paccom Leasing Corp. v. Deico Electronics, Inc. (In re Deico Electronics, Inc.)
United States Bankruptcy Appellate Panel for the Ninth Circuit
139 B.R. 945 (1992)
- Written by Douglas Halasz, JD
Facts
Paccom Leasing Corporation (Paccom) (creditor) held a security interest in Deico Electronics, Inc.’s (Deico) (debtor) equipment. Deico filed for bankruptcy, and the equipment was necessary for Deico’s reorganization. Paccom requested twice that the bankruptcy court grant it relief from the automatic stay or adequate protection concerning the depreciating equipment. After Paccom’s second request, the bankruptcy court ordered Deico to make monthly adequate protection payments beginning on the date that Paccom filed the second request. Paccom appealed and argued that the payments should have begun earlier, either on the date of the bankruptcy petition or when Paccom made its first request.
Rule of Law
Issue
Holding and Reasoning (Ollason, J.)
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