Legal Opinion
In Re Excellency Homes, Inc.
United States Bankruptcy Court, E.D. Wisconsin
Decided July 18, 1985No. 19-20598PublishedCited by 2 opinions
1Opinion of the Court
DECISION
D.E. IHLENFELDT, Bankruptcy Judge.
On July 10, 1984, when the debtor filed its chapter 7 petition, it was the owner of three parcels of real estate, each of which was subject to a mortgage in favor of Badger Savings Association (Badger), and each of which was the subject of a pending state court foreclosure action.
Although each mortgage contained an assignment of rents clause, the properties had been appraised in amounts substantially in excess of the mortgage balances, and consequently, Badger took no action to secure possession and collect the rents. Instead, after the filing of the…
2Cases cited3 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- Lincoln Crest Realty, Inc. v. Standard Apartment Development of West Allis, Inc.Wisconsin Supreme Court · 1973
- Wuorinen v. City Federal Savings & Loan Ass'nWisconsin Supreme Court · 1971
3Cited by2 opinions
- Kearney Hotel Partners v. Richardson (In Re Kearney Hotel Partners)United States Bankruptcy Court, S.D. New York · 1988
- Leben v. Rabin (In re A.W.H. of Wisconsin, Inc.)District Court, E.D. Wisconsin · 1987