- FRBP
Ferry Rd. Props. v. RL BB ACQ II-TN LLC (In re Ferry Rd. Props.)
Sep
07
2012
Ruling
Tort judgment for injury to real property in favor of debtor was proceeds of property and subject to mortgagee's lien claim.
Procedural posture
Plaintiff, chapter 11 debtor, brought an adversary complaint objecting to the claim of defendant secured creditor, seeking a determination of the validity, priority, and extent of the creditor's lien rights. The creditor had foreclosed on debtor's commercial real property, and sought the proceeds of debtor's state court tort action for damages to the real property and loss of business income. The parties cross-moved for summary judgment.
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Court
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