Claim based on a non-recourse second mortgage must be allowed pursuant to Bankruptcy Code section 1111(b(1)(A), which requires only that the claim be secured by a lien on property of the estate,...
A cross-collateralization clause in first priority mortgage put second priority mortgagee on inquiry notice of debt in excess of promissory note specified in first mortgage. Therefore, first...
Judge(s):
Kanne, Williams and Zagel (by designation from the Northern District of Illinois).
