Subrogation – Subordination Agreement

By: Derek Hawkins//December 30, 2015//

Listen to this article

WI Court of Appeals – District IV

Case Name: Park Bank v. David W. Jackson

Case No.: 2015AP126

Officials: Kloppenburg, P.J., Lundsten and Sherman, JJ.

Practice Area: Subrogation – Subordination Agreement

Park Bank appeals a judgment granted in favor of respondent Wachovia Mortgage Corporation. The issues relate to whether Wachovia is entitled to equitable subrogation, so as to place its mortgage lien in first position, despite Wachovia’s failure to obtain a valid subordination agreement from the second-place lienholder, Park Bank, when Wachovia made the loan. We conclude that Wachovia is entitled to subrogation, but only in a limited amount. We reverse and remand with directions to amend the judgment to provide that limited amount.

Full Text

Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

Select Region or Brand

Upcoming Event