Concannon v. Imperial Capital Bank (In re Concannon)
Feb
07
2006
Ruling
Appellate panel affirmed ruling that the debtor could not use section 506(d) to remove a creditor's judgment lien and that the lien would pass through the bankruptcy case.
Procedural posture
Appellee creditor sought relief from an automatic stay to foreclose its judgment lien, and appellant debtors defended the motion in their chapter 7 case by seeking a valuation of their rental property encumbered by the lien and avoidance of the creditor's lien pursuant to former 11 U.S.C. § 506(a) and (d). The Bankruptcy Court for the District of Arizona granted the creditor's motion and lifted the stay. Debtors appealed.
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