Woodcrest Homes, Inc. v. First National Bank of Pueblo (In Re Woodcrest Homes, Inc.)

MEMORANDUM OPINION, FINDINGS OF FACT, CONCLUSIONS OF LAW AND ORDER DETERMINING LIENS

GLEN E. KELLER, Jr„ Bankruptcy Judge.

Plaintiff seeks a determination of the validity, extent, and priority of Defendants’ interest in its real property. The Defendant Martin Trenching and Excavating has counterclaimed for an order declaring it to have a valid mechanic’s lien in the amount of $295,692.79 and permitting foreclosure thereof. The matter is before the Court largely upon stipulated facts, a brief recitation of which is important to the understanding of the legal issues.

In 1978, the Plaintiff,…