First Republic Corp. of America v. BayBank

At issue is whether a secured lender is liable for use and occupancy after the debtor defaults, leaving the collateral for the note (heavy equipment and machinery) in the landlord’s premises. On cross motions for summary judgment, a judge of the Superior Court concluded that the secured creditor, the defendant, BayBank,1 should be held liable for the use and occupancy of the plaintiff’s, First Republic Corporation of America’s, premises in Waltham.2 The defendant appeals. We transferred the case here on our own *705motion. We conclude that, in these circumstances, BayBank is not liable for the…