Bank of America, N.A. v. Caulkett
Published on:
January 16, 2015
SIFMA has submitted an Amicus “Friend of the Court” Brief.
Court:
U.S. Supreme Court
Amicus Issue:
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.
Counsel of Record:
Professor Ronald J. Mann
Columbia Law School
Other Amici:
Loan Syndications and Trading Association
American Bankers Association
The Clearing House Association L.L.C.