H. B. Agsten & Sons, Inc. v. Huntington Trust & Savings Bank

SOBELOFF, Circuit Judge:

With the facts undisputed, the only issue for our determination in this circuity of lien priorities case is the proper distribution of the proceeds from a judicial sale of property.1 We think that the District Court’s disposition satisfactorily accommodates the competing interests of state and federal law and the opposing claims of the three litigants — a mechanic’s lienor, a mortgagee bank and the Small Business Administration. Accordingly, we affirm the court’s decision to give priority to the bank and the remainder to the SBA, while requiring the bank to satisfy the…