W.a.C. Inc. v. Day

JiLOTTINGER, Chief Judge.

This case concerns the rights of a holder of a first mortgage with respect to actions tak*972en and revenues collected by a keeper appointed by a holder of a second mortgage.

FACTS

The plaintiff in this suit, W.A.C., Inc. (W.A.C.), is the current owner of a first mortgage on a group of apartment buildings known as The Redwood Apartments (Redwood). It brought suit to foreclose on the mortgage by executory process. W.A.C. also sought to have the keeper appointed by the second mortgagee replaced by its own, to have the second mortgagee’s keeper held liable for tax penalties it…