In re D&M Land Co. LLC

Ruling: 
Bank entitled to recover from forfeited earnest money from failed sales of debtor's property.
Procedural posture: 
Debtor, a land company that had filed a chapter 11, sought a final decree while a bank that was a secured creditor opposed the motion and filed its own motion for disgorgement of certain funds and a turnover of attorneys' fees. Issues included whether certain amounts were properly charged against the bank's interest in certain proceeds pursuant to 11 U.S.C.S. § 506(c) or whether the equitable exception in 11 U.S.C.S. § 552(b)(1) applied.
Issue: 
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Commercial case opionion summary, case decided on January 15,2010, LexisNexis #0310-116