Bankruptcy Judge Rules Refinancing Lender’s Carelessness Won’t Cost It Priority
Bankruptcy Judge Rules Refinancing Lender’s Carelessness Won’t Cost It Priority
In a ruling of interest to mortgage lenders, a federal bankruptcy judge has held that even a grossly negligent lender is entitled to the benefit of equitable subrogation in determining priority. Judge Kathryn Ferguson, with no precedent to guide her on whether gross negligence or reckless disregard of industry practice is a bar to equitable subrogation, looked at equitable subrogation decisions …
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Tags: bankruptcy, Carelessness, COST, Judge, Lenders, Priority, refinancing, rules, won't
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