Preferences: Surprise – Being Fully Secured May Not Be A Complete De...

Preferences: Surprise – Being Fully Secured May Not Be A Complete Defense
Mondaq News Alerts (registration)
A chapter 7 trustee sought to avoid payments made to a fully secured senior mortgagee within 90 days prior to bankruptcy as preferential to an undersecured junior mortgagee. Property valued at ~$1.1 million was subject to a lien securing senior debt of ...