Chapter 11 debtors submitted a repayment plan proposing a 300-month repayment of their principal secured creditor, mortgagee, to begin immediately. Other secured creditors would also be paid in full, beginning immediately, over a period of 15 months. One secured creditor would be paid in full on the effective date of the plan, while smaller unsecured creditors would be paid over a 7-month period, beginning approximately 18 months after the plan was submitted for approval. Finally, larger unsecured creditors would be paid over a 51-month period, beginning at the end of the 7-month period. All claims would be paid in full, plus interest. Mortgagee objected to the plan, and the court considered whether the plan could be confirmed over the objection of the principal secured creditor by use of the "cramdown" provision of 11 U.S.C. § 1129(b), which the court described as a partial codification of the absolute priority rule. The court held that § 1129(b) does not require full payment of senior creditors before junior creditors may be paid, nor must confirmation be denied where junior creditors will be paid in full before senior creditors, so long as the senior creditors are adequately protected. Adequate protection of mortgagee consisted of its retention of its lien and sufficient cash payments to provide it with the indubitable equivalent of its claim. Applying those rules, debtors' plan satisfied the standards required for confirmation.