No. 21-134

Jesus Vasquez, Jr., et ux. v. Wilmington Savings Fund Society, FSB, as Trustee of Stanwich Mortgage Trust F

Lower Court: Fourth Circuit
Docketed: 2021-08-02
Status: Denied
Type: Paid
Tags: bankruptcy-code debtor-rights dewsnup-v-timm judicial-precedent lien lien-valuation secured-claim secured-claims statutory-interpretation unsecured-claim
Key Terms:
Securities JusticiabilityDoctri
Latest Conference: 2021-11-05
Question Presented (AI Summary)

Whether Dewsnup v. Timm, 502 U.S. 410 (1992), should be overruled

Question Presented (OCR Extract)

QUESTION PRESENTED Section 506(a)(1) of the Bankruptcy Code states that “[a]n allowed claim of a creditor secured by a lien ** * is a secured claim to the extent of the value of such creditor’s interest in the estate’s interest in such property, * * * and is an unsecured claim to the extent that the value of such creditor’s interest * * * is less than the amount of such allowed claim.” Section 506(d) states, in relevant part, “To the extent that a lien secures a claim against the debtor that is not an allowed secured claim, such lien is void.” Under a plain reading of Sections 506(a)(1) and 506(d), the amount of a lien that exceeds the value of a debtor’s property is not an allowed secured claim, and is, therefore, void. However, this natural reading of Section 506(d) has been foreclosed by Dewsnup uv. Timm, 502 U.S. 410 (1992). See Bank of America, N.A. v. Caulkett, 575 U.S. 790, 794 (2015). The sole question presented is whether Dewsnup v. Timm, 502 U.S. 410 (1992), should be overruled.

Docket Entries

2021-11-08
Petition DENIED.
2021-10-20
DISTRIBUTED for Conference of 11/5/2021.
2021-10-14
Reply of petitioners Vasquez, et al. filed.
2021-10-01
Brief of respondent Wilmington Savings Fund Society, FSB, as Trustee of Stanwich Mortgage Trust F in opposition filed.
2021-08-31
Motion to extend the time to file a response is granted and the time is extended to and including October 1, 2021.
2021-08-27
Motion to extend the time to file a response from September 1, 2021 to October 1, 2021, submitted to The Clerk.
2021-07-29
Petition for a writ of certiorari filed. (Response due September 1, 2021)

Attorneys

Vasquez, et al.
Richard Preston CookRichard P. Cook, PLLC, Petitioner
Wilmington Savings Fund Society, FSB, as Trustee of Stanwich Mortgage Trust F
Jennifer Anne MansfieldHolland & Knight LLP, Respondent
Wesley RidoutHolland & Knight, Respondent