Bank of America v. Caulkett | SCOTUS PETITION - Whether, under Section 506(d) of the Bankruptcy Code, which provides that "[t]o the extent that a lien secures a claim against the debtor that is not an allowed secured claim, such lien is void," a chapter 7 debtor may "strip off" a junior mortgage lien in its entirety when the outstanding debt owed to a senior lienholder exceeds the current value of the collateral

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Bank of America v. Caulkett | SCOTUS PETITION – Whether, under Section 506(d) of the Bankruptcy Code, which provides that “[t]o the extent that a lien secures a claim against the debtor that is not an allowed secured claim, such lien is void,” a chapter 7 debtor may “strip off” a junior mortgage lien in its entirety when the outstanding debt owed to a senior lienholder exceeds the current value of the collateral

Bank of America v. Caulkett | SCOTUS PETITION – Whether, under Section 506(d) of the Bankruptcy Code, which provides that “[t]o the extent that a lien secures a claim against the debtor that is not an allowed secured claim, such lien is void,” a chapter 7 debtor may “strip off” a junior mortgage lien in its entirety when the outstanding debt owed to a senior lienholder exceeds the current value of the collateral

A response to the petition is due June 27.

 

IN THE
Supreme Court of the United States

BANK OF AMERICA, N.A.,
Petitioner,
v.

DAVID B. CAULKETT,
Respondent.

ON PETITION FOR A WRIT OF CERTIORARI TO THE
UNITED STATES COURT OF APPEALS
FOR THE ELEVENTH CIRCUIT
PETITION FOR A WRIT OF CERTIORARI

QUESTION PRESENTED
Section 506(d) of the Bankruptcy Code provides in
relevant part that “[t]o the extent that a lien secures a
claim against the debtor that is not an allowed secured
claim, such lien is void.” In Dewsnup v. Timm, 502 U.S.
410 (1992), this Court held that section 506(d) does not
permit a chapter 7 debtor to “strip down” a mortgage
lien to the current value of the collateral. The question
presented in this case, on which the courts of appeals
are divided, is whether section 506(d) permits a chapter
7 debtor to “strip off” a junior mortgage lien in its entirety
when the outstanding debt owed to a senior
lienholder exceeds the current value of the collateral.

[..]

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