CDC Builders, Inc. v. Biltmore-Sevilla Debt Investors, LLC

CDC Builders, Inc. (“the Contractor”) appeals a final summary judgment of foreclosure which terminated its construction liens for luxury homes it built on two developments. The Contractor, opposed the foreclosure action on the basis that the newly-formed entity that filed the foreclosure action was created. (1) by the same investors that controlled the Developers of the project and (2) for the primary purpose of acquiring the first mortgage from the Developers’ lender, foreclosing the mortgage, and thereby eliminating the Contractor’s construction liens. We reverse because there is sufficient…