|Title||In re Marquis McCrimmon, 13-31216|
David E. Rice
Counsel for Dane Equities, LLC: James C. Olson, Esq. Counsel for FCI Lender Services, Inc. as servicer for Vonderharr Wagner Associates LLC Defined Benefit Pension Plan: Rita Ting-Hopper, Esq.
The court reopened a case to resolve a dispute between Dane Equities, LLC and FCI Lender Services, Inc. about the effect of Dane’s foreclosure of the debtor’s equity of redemption in real property pursuant to a tax sale certificate while the bankruptcy case was pending. The Bankruptcy Court, David E. Rice, Judge, analyzed a variety of factors and found that cause existed to annul the automatic stay and thereby validate Dane’s state court tax sale certificate foreclosure. Among other reasons, Dane acted in good faith without knowledge of the bankruptcy filing whereas FCI knew of both the bankruptcy filing and the tax sale foreclosure proceeding but took no action to advise Dane or the state court of the automatic stay.