Scott v. Aegis Mortg. Corp. (In re Aegis Mortg. Corp.)
May
22
2008
Ruling
Bankruptcy court lacked jurisdiction over recission action based on mortgage issued and serviced by debtor but sold prior to petition date.
Procedural posture
Plaintiff creditor brought an adversary proceeding against defendant bankruptcy debtors alleging that the debtors improperly issued and serviced a mortgage securing a loan to the creditor, and seeking money damages. The debtors moved to dismiss the complaint on the grounds that the mortgage was sold prior to the debtors' bankruptcies and that the creditor's proofs of claim precluded an adversary proceeding for damages.
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Court
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