(7th Cir. Mar. 22, 2016)
The Seventh Circuit affirms the lower courts’ decision to grant the mortgagee’s motion to modify the automatic stay to proceed with the state court foreclosure action. The court also affirms the lower courts’ decision to dismiss claims in the debtor’s adversary complaint against the mortgagee based on alleged violations of a pooling and service agreement. The debtor did not have standing on those claims because the debtor was not a third-party beneficiary to that agreement. However, the court remands for reconsideration of the dismissal of two claims that were not based on the pooling and service agreement. Opinion below.
Attorney for Debtor: Kenneth E. Kaiser
Attorneys for Mortgagee: Kluever & Platt, LLC, Matthew Reasor Bowman, Morris Laing Evans Brock & Kennedy, CHTD., Justin F. Carter
Author: Matt Lindblom