Bank of America v. Caulkett
- Summarized by Michael Pugh , Thompson, O'Brien, Kemp & Nasuti, PC
- 9 years 5 months ago
- Citation:
- D.C. Docket No. 6:14-cv-00078-GAP; 6:13-bk-05337-KSJ
- Tag(s):
-
- Ruling:
- The Eleventh Circuit affirmed the district court's affirmance of the bankruptcy court's order voiding a wholly unsecured second priority lien on residential property owned by a Chapter 7 debtor.
- Procedural context:
- The bankruptcy court ordered that a debtor may "strip off" wholly unsecured second priority lien on the debtor's home when the first priority lien exceeds the value of the property. The district court affirmed the bankruptcy court's order. The lienholder, Bank of America, N.A., appealed.
- Facts:
- The Eleventh Circuit recently addressed this issue and concluded that a wholly unsecured junior lien is voidable under 11 U.S.C. 506(d). Bank of America acknowledged that the panel is bound by the Court's earlier decisions on this issue but reserved the right to seek reconsideration of the issue by the en banc Court.
- Judge(s):
- Marcus, Pryor, Edmondson, Circuit Judges
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