Gauvin v. Wagner (In Re Gauvin)

The debtor appeals from an order granting relief from stay on the ground that the creditor’s interest in the debtor’s property was not adequately protected. 11 U.S.C. § 362(d)(1). We affirm.

The debtor relied entirely on an equity cushion in the subject 595.16 acres of raw land in Madera County. He offered no other form of adequate protection to plaintiffs.

Plaintiffs’ appraiser opined that the highest and best use for the property was agricultural and based on a market value approach, valued the property at $1,636,690. The parties stipulated that the outstanding secured indebtedness to…