Payments made to a senior lienholder within 90 days of bankruptcy were avoidable as a preferential transfer in favor of the junior lienholder. Gladstone v. Bank of America (In re Vassau), No. 09-9536, AP 11-90280 (Bankr. S.D. Cal. Sept. 25, 2013). [Read more…] about Payments to Senior Lienholder Avoidable as to Junior Lienholder
NJ Appellate Court Sets Aside Sheriff’s Sale
A New Jersey intermediate appellate court set aside a sheriff’s sale and vacated summary judgment originally granted in favor of foreclosing entity because it failed to prove it had standing on the day that the foreclosure complaint was filed. An amended complaint filed after plaintiff received an assignment of mortgage did not cure the defect.