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BANK OF AMERICA, N.A. v. TOLEDO-CARDONA

Docket No.: 14-163
Certiorari Granted: November 17, 2014
Argued: March 24, 2015
Consolidated with: 13-1421

PartyNames: Bank of America, N. A. v. Edelmiro Toledo-Cardona
Petitioner: Bank of America, N. A.
Respondent: Edelmiro Toledo-Cardona

Court Below: United States Court of Appeals for the Eleventh Circuit
Citation: 556 Fed.Appx. 911
Supreme Court Docket

Bank of America, N. A.
v.
Edelmiro Toledo-Cardona
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. TOLEDO-CARDONA
ORAL ARGUMENT

March 24, 2015

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