Bankr. No.:
95-40637
Adv. No.:
96-4024
Chapter:
7
Date of Decision:
March 27, 1997
Issue:
Whether second bank was subrogated to recorded lien on vehicle held by first bank whose lien was satisfied by funds supplied to the debtor by the second bank?
Ruling:
While S.D.C.L. ยง44-3-6 recognizes the general right of subrogation, the statute does not apply to liens on vehicles because S.D.C.L. Ch. 32-3 specifically governs the perfection and enforcement of liens on vehicles.
Full Bankruptcy Court Decision:
