Bank of America, N.A. v. Vander Iest (In Re Vander Iest)
Opinion
Appellee, Bartel James Vander lest, Jr., is a Chapter 7 debtor. He has two mortgages on his house secured by correspond- . ing liens. The second lien, Bank of America’s, is completely “underwater.” Vander lest obtained from the bankruptcy court an order “stripping off’ Bank of America’s second lien as void under 11 U.S.C. § 506(d). The district court affirmed. Bank of America appealed. Bound by our prior precedent rule, we affirmed.
The Supreme Court granted Bank of America’s petition for writ of certiorari, vacated this court’s judgment, and remanded the case for further proceedings in light of Bank of America, NA. v. Caulkett, 575 U.S.-, 135 S.Ct. 1995, 192 L.Ed.2d 52 (2015). Under Caulkett, § 506(d) does not permit the bankruptcy court to strip off the underwater second lien.
Following the issuance of Caulkett, Bank of America filed a motion for summary reversal in this court. We deny that motion by separate order. We vacate the judgment of the district court and remand *909 this case to the district court for further proceedings consistent with this opinion and Caulketb.
VACATED AND REMANDED.
Reference
- Full Case Name
- In Re: Bartel James VANDER IEST, Jr., Debtor. Bank of America, N.A., Plaintiff-Appellant, v. Bartel James Vander Iest, Jr., Debtor-Appellee
- Status
- Unpublished