Parkwood Limited Dividend Housing Ass'n v. State Housing Development Authority

Our Supreme Court has remanded this case to our Court with instructions to consider the substantive merits of plaintiffs appeal. 468 Mich 763 (2003). Plaintiff had sought a declaratory judgment regarding whether its potential prepayment of a mortgage issued by defendant would entitle it to accounts funded in accordance with the loans. Defendant moved for summary disposition, contending that prepaying the mortgage would dissolve plaintiff and that the accounts in question would be “surplus,” MCL 125.1493(b), thereby entitling defendant to own those accounts. The Court of Claims agreed and…