Peppertree Resorts, Ltd. v. Cabana Ltd. Partnership

Cureton, Judge:

Cabana Limited Partnership (Cabana) appeals the master’s order denying its motion to compensate its attorneys from the proceeds of an insurance settlement. We reverse and remand.

Farmer’s and Mechanic’s Savings Bank 1 held first and second mortgages on a timeshare condominium resort developed by Cabana. Greyhound Real Estate Finance Co. (GREFCO) held a third mortgage on the resort and a security interest in various notes and purchase money mortgages generated by the sale of time-share units. Peppertree and GREFCO were named as loss payees on Cabana’s business interruption…