361. Adequate protection. When adequate protection is
required under section 362, 363, or 364 of this title of an
interest of an entity in property, such adequate protection may
be provided by
(1) requiring the trustee to make a cash payment or
periodic cash payments to such entity, to the extent that the
stay under section 362 of this title, use, sale, or lease under
section 363 of this title, or any grant of a lien under section
364 of this title results in a decrease in the value of such
entity's interest in such property;
(2) providing to such entity an additional or replacement
lien to the extent that such stay, use, sale, lease, or grant
results in a decrease in the value of such entity's interest in
such property; or
(3) granting such other relief, other than entitling such
entity to compensation allowable under section 503(b)(1) of this
title as an administrative expense, as will result in the
realization by such entity of the indubitable equivalent of such
entity's interest in such property.
SECTION 362 (11 U.S.C. 362)
362. Automatic stay.
(a) Except as provided in subsection (b) of this section,
a petition filed under section 301, 302, or 303 of this title, or
an application filed under section 5(a)(3) of the Securities
Investor Protection Act of 1970 (15 U.S.C. 78eee(a)(3)), operates
as a stay, applicable to all entities, of-
/* One of the most important sections of the bankruptcy code. Although there are some exceptions, the filing of bankruptcy results in a stand still of most legal actions and the consolidation of all of them in bankruptcy court. The exceptions general rule of stay of legal proceedings are not all stated in this section. Certain commodities transactions and air liner leases are subject to other provisions as to a stay. */
(1) the commencement or continuation, including the
issuance or employment or process, of a judicial, administrative,
or other action or proceeding against the debtor that was or
could have been commenced before the commencement of the case
under this title, or to recover a claim against the debtor that arose before the commencement of the case under this title;
(2) the enforcement, against the debtor or against
property of the estate, of a judgment obtained before the
commencement of the case under this title;
(3) any act to obtain possession of property of the estate
or of property from the estate or to exercise control over
property of the estate;
(4) any act to create, perfect, or enforce any lien against property of the estate;
(5) any act to create, perfect, or enforce against property of the debtor any lien to the extent that such lien secures a claim that arose before the commencement of the case under this title;
(6) any act to collect, assess, or recover a claim against the debtor that arose before the commencement of the case under this title;
(7) the setoff of any debt owing to the debtor that arose before the commencement of the case under this title against any claim against the debtor; and
(8) the commencement or continuation of a proceeding before the United States Tax Court concerning the debtor.
(b) The filing of a petition under section 301, 302, or
303 of this title, or of an application under section 5(a)(3) of
the Securities Investor Protection Act of 1970 (15 U.S.C.
78eee(a)(3)), does not operate as a stay
(1) under subsection (a) of this section, of the
commencement or continuation of a criminal action or proceeding
against the debtor;
(2) under subsection (a) of this section, of the collection of alimony, maintenance, or support from property that is not property of the estate;
(3) under subsection (a) of this section, of any act to
perfect an interest in property to the extent that the trustee's
rights and powers are subject to such perfection under section
546(b) of this title or to the extent that such act is
accomplished within the period provided under section
547(e)(2)(A) of this title;
(4) under subsection (a)(1) of this section, of the commencement or continuation of an action or proceeding by a government unit to enforce such governmental unit's police or regulatory power;
(5) under subsection (a)(2) of this section, of the enforcement of a judgment, other than a money judgment, obtained in an action or proceeding by a government unit to enforce such government unit's police or regulatory power;
(6) under subsection (a) of this section, of the setoff by a commodity broker, forward contract merchant, stockbroker, financial institutions, or securities clearing agency of any
mutual debt and claim under or in connection with commodity
contracts, as defined in section 761(4) of this title, forward
contracts, or securities contracts, as defined in section 741(7)
of this title, that constitutes the setoff of a claim against the
debtor for a margin payment, as defined in section 101(34),
741(5), or 761(15) of this title, or settlement payment, as defined in section 101(35) or 741(8) of this title, arising out
of commodity contracts, forward contracts, or securities
contracts against cash, securities, or other property held by or
due from such commodity broker, forward contract merchant,
stockbroker, financial institutions, or securities clearing
agency to margin, guarantee, secure, or settle commodity
contracts, forward contracts, or securities contracts;
(7) under subsection (a) of this section, of the setoff by
a repo participant, of any mutual debt and claim under or in
connection with repurchase agreements that constitutes the setoff
of a claim against the debtor for a margin payment, as defined in
section 741(5) or 761(15) of this title, or settlement payment,
as defined in section 741(8) of this title, arising out of
repurchase agreements against cash, securities, or other property
held by or due from such repo participant to margin, guarantee,
secure or settle repurchase agreements;
(8) under subsection (a) of this section, of the commencement of any action by the Secretary of Housing and Urban Development to foreclose a mortgage or deed of trust in any case in which the mortgage or deed of trust held by the Secretary is insured or was formerly insured under the National Housing Act and covers property, or combinations of property, consisting of five or more living units;
(9) under subsection (a) of this section, of the issuance to the debtor by a governmental unit of a notice of tax deficiency;
(10) under subsection (a) of this section, of any act by a
lessor to the debtor under a lease of nonresidential real
property that has terminated by the expiration of the stated term
of the lease before the commencement of or during a case under
this title to obtain possession of such property; or [sic]
(11) under subsection (a) of this section, of the presentment of a negotiable instrument and the giving of notice of and protesting dishonor of such an instrument;
(12) under subsection (a) of this section, after the date which is 90 days after the filing of such petition, of the commencement or continuation, and conclusion to the entry of final judgment, of an action which involves a debtor subject to reorganization pursuant to chapter 11 of this title and which was brought by the Secretary of Transportation under the Ship Mortgage Act, 1920 (46 App. U.S.C. 911 et seq.) (including distribution of any proceeds of sale) to foreclose a preferred ship or fleet mortgage, or a security interest in or relating to a vessel or vessel under construction, held by the Secretary of Transportation under section 207 or title XI of the Merchant Marine Act, 1936 (46 App. U.S.C. 1117 and 1271 et seq., respectively), or under applicable State law;
(13) under subsection (a) of this section, after the date which is 90 days after the filing of such petition, of the commencement or continuation, and conclusion to the entry of final
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