In re Sak Dev. Inc.
Feb
29
2008
Ruling
Construction company was entitled to reimbursement for expenses incurred in preservation of property of the estate.
Procedural posture
A construction company (movant) requested an order per 11 U.S.C.S. § 506(c) requiring a bank with a security interest in certain real estate in which debtor also had an interest to reimburse movant for expenses that it claimed to have incurred to preserve the value of the real estate. Specifically, movant sought more than $150,000 on account of said expenses. The bank objected to any reimbursement and, inter alia, challenged movant's standing.
ABI Membership is required to access the full summary of In re Sak Dev. Inc. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: