Romagnoli v. Sr Acquisitions – Florida City, LLC

Despite the complicated relationships between the parties, this case is relatively straightforward. To cut to the chase, Ap-pellees SR Acquisitions-Florida City, LLC and SR Acquisitions-Homestead, LLC (the Noteholders) purchased from Ocean Bank the notes, personal guarantees, and mortgages relating to two properties. The Debtors on these instruments defaulted and the Noteholders foreclosed on both properties. The Noteholders did not join the guarantors in the foreclosure action. By a concatenation of events, the investors behind the Noteholders who were foreclosing on the notes also appear to…