Tag Archives: priority of interests

Mortgage Priority: And What About Equitable Subrogation?

Posted on May 18, 2016 by BankruptcyRealEstateInsights

Stambaugh v. PNC Bank, N.A. (In re Stambaugh), 532 B.R. 572 (Bankr. M.D. Pa. 2015) – A chapter 13 debtor sought to establish the priority of certain mortgages, and the bank that held all of the mortgages attempted to reorder the … Continue reading →

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Sale “Free and Clear”: Adequate Protection of Nothing is Nothing

Posted on July 29, 2014 by BankruptcyRealEstateInsights

In re Elk Grove Village Petroleum, 510 B.R. 594 (Bankr. N.D. Ill. 2014) – After substantially all of the debtors’ assets were sold in a bankruptcy sale, a secured lender and a state tax authority made competing claims for turnover … Continue reading →

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Dragnet Clauses: Sometimes They Don’t Work as Hoped, and Sometimes They Do

Posted on April 1, 2014 by BankruptcyRealEstateInsights

In re Presser, 504 B.R. 452 (Bankr. S.D. Ohio 2014) – A judgment lien creditor objected to a joint debtors’ chapter 11 plan of reorganization based on a dispute with a mortgagee about whether its mortgages secured guaranty obligations of … Continue reading →

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Claim Priority: Construction Lien Meets Mortgage – Who Wins?

Posted on January 14, 2014 by BankruptcyRealEstateInsights

ROK Builders, LLC v. 2010-1 SFG Venture LLC (In re Moultonborough Hotel Group, LLC), 726 F.3d 1 (1st Cir. 2013) – After the owner of a newly constructed hotel filed bankruptcy, the assignee of the construction mortgage sought a declaration that … Continue reading →

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Cross-Collateralization: Your Dragnet Clause May Have at Least a Little Hole In It

Posted on August 9, 2013 by BankruptcyRealEstateInsights

Peoples National Bank, N.A. v. Banterra Bank, 719 F.3d 608 (7th Cir. 2013) – In this case, the district court had reversed the bankruptcy court – holding that a standard dragnet clause in a mortgage was not sufficient to secure a … Continue reading →

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Failure to Negotiate Mortgage Note: “Strong Arm” Powers With A Twist

Posted on July 26, 2013 by BankruptcyRealEstateInsights

Rogan v. Vanderbilt Mortgage & Finance, Inc. (In re Dorsey), 491 B.R. 464 (Bankr. E.D. Ky. 2013 – A chapter 7 trustee sought to use his “strong arm” powers as a hypothetical judgment lien creditor, arguing that a mortgage could be avoided … Continue reading →

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