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Bank of America, N. A. v. Caulkett

Docket No.: 13-1421
Certiorari Granted: 11/17/2014
Argued: March 24, 2015
Decided: June 1, 2015
Consolidated with: CONSOLIDATED WITH 14-163 FOR ONE HOUR ORAL ARGUMENT.

Topics:

Bankruptcy, Bankruptcy Code

PartyNames: Bank of America, N. A. v. David B. Caulkett
Petitioner: Bank of America, N. A.
Respondent: David B. Caulkett

Court Below: United States Court of Appeals for the Eleventh Circuit
Citation: 566 Fed.Appx. 879
Supreme Court Docket

Bank of America, N. A.
v.
David B. Caulkett
Question Presented:

Section 506(d) of the Bankruptcy Code provides in relevant part that "[t]o the extent that a lien secures a claim against the debtor that is not an allowed secured claim, such lien is void." In Dewsnup v. Timm, 502 U.S. 410 (1992), this Court held that section 506(d) does not permit a chapter 7 debtor to "strip down" a mortgage lien to the current value of the collateral. The question presented in this case, on which the courts of appeals are divided, is whether section 506(d) permits a chapter 7 debtor to "strip off" a junior mortgage lien in its entirety when the outstanding debt owed to a senior lienholder exceeds the current value of the collateral.

Bank of America, N. A. v. Caulkett
ORAL ARGUMENT

March 24, 2015

Listen to Oral Argument in Bank of America, N. A. v. Caulkett
Holding: CERTIORARI DISMISSED IN PART; REVERSED IN PART AND REMANDED
Vote: 9-0
Majority: Judgment Reversed, Case Remanded. Thomas, Chief Justice Roberts, Scalia, Ginsburg, Alito, Kagan, Kennedy, Breyer, Sotomayor
Opinion By:
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