October 21st, 2015
In Wolkowitz v. Fidelity Mortgage Lenders, et al., a bankruptcy trustee for a recording studio filed adversary proceeding against certain secured lenders, arguing that the $1.5 million deed of trust securing their debt was invalid because the loan was not approved by a supermajority of the debtor’s principals. The Firm obtained summary judgment on behalf of the secured lenders and against the bankruptcy trustee, after arguing that the subject provision of the written partnership agreement was not enforceable against the secured lenders.