the protection afforded to a holder of a secured claim against the debtor, such as a periodic cash payment or an additional lien.
normally in the context of a chapter 13, where a secured creditor's collateral is not being protected by the bankruptcy system, and where said creditor can ask for additional funds to be paid pre-confirmation especially when a depreciating asset is involved or when 11 USC ยง362 Automatic stay be lifted by the Bankruptcy Court Judge.
Security, collateral or some other measure undertaken or provided by the debtor in bankruptcy, to protect a claim holder from depreciation of its collateral pending confirmation of a plan, for the period during which the debtor has continued possession or use of the collateral.
The standard of protection granted a creditor by the trustee or debtor-in-possession to prevent the court from allowing the creditor to foreclose on its property.
the right of a party with an interest in the debtor's property (such as a secured creditor) to assurance that its interest will not be diminished during the bankruptcy proceedings.
(US bankruptcy based) The security, whether money, insurance, court-ordered action or proscription from action, created or imposed by the bankruptcy court in lieu of a return of the creditor's collateral from the bankrupcty estate. The phrase was intentionally left undefined in the Bankrupcty Code so that the bankruptcy court could have maximum flexibility in crafting protection for a creditor who will have to suffer the debtor's continued use of the collateral.