In re Levitt & Sons LLC
Jul
16
2008
Ruling
Equitable lien of lot purchasers was subordinate to creditor's prepetition security deed.
Procedural posture
After the debtors filed for chapter 11 bankruptcy protection, two lot purchasers filed a motion claiming that they were entitled to a statutory or equitable lien on a specific lot and that their lien was senior and prior in right of payment to the security deed of a creditor. The creditor objected to the motion and moved for summary judgment.
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Court
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