From our private database of 14,000+ case briefs...
United Savings Assoc. of Texas v. Timbers of Inwood Forest Assoc.
United States Supreme Court
484 U.S. 365 (1988)
In June 1982, Timbers of Inwood Forest Associates, Inc. (Timbers) (debtor) borrowed $4.1 million from United Savings Association of Texas (United Savings) (plaintiff). The loan was secured by an apartment project owned by Timbers and an assignment of rents therefrom. In March 1985, Timbers filed a Chapter 11 bankruptcy petition, triggering the automatic stay. Soon thereafter, United Savings sought relief from the stay on the ground that it lacked adequate protection of its interest in the secured property, for which 11 U.S.C. § 362(d)(1) authorized relief. It was established that Timbers owed United Savings $4,366,388.77 and that the apartment project, which was slowly appreciating in value, was worth at most $4.25 million, leaving United Savings undersecured. The bankruptcy court ordered that the automatic stay would remain in place only if Timbers made monthly payments to United Savings, beginning six months after the commencement of the bankruptcy case and at the market interest rate, on the estimated amount United Savings would realize if it were able to immediately foreclose, assuming sale of the property for $4.25 million. Both parties appealed: Timbers as to the decision and United Savings as to the payment amount. The district court affirmed, but the Court of Appeals for the Fifth Circuit reversed. United Savings petitioned the Supreme Court for certiorari.
Rule of Law
Holding and Reasoning (Scalia, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 202,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,000 briefs, keyed to 188 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.