Bank of America, NA v. James Jerome Phillips , 612 F. App'x 590 ( 2015 )

Case: 14-12585 Date Filed: 08/14/2015 Page: 1 of 2
[DO NOT PUBLISH]
IN THE UNITED STATES COURT OF APPEALS
FOR THE ELEVENTH CIRCUIT
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No. 14-12585
Non-Argument Calendar
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D.C. Docket No. 2:14-cv-00095-RWS; BK-13-23492-REB
In Re: JAMES JEROME PHILLIPS,
TAMARA JOHNSTON PHILLIPS,
Debtors.
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BANK OF AMERICA, NA,
Appellant,
versus
JAMES JEROME PHILLIPS,
TAMARA JOHNSTON PHILLIPS,
Debtors - Appellees.
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Appeal from the United States District Court
for the Northern District of Georgia
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(August 14, 2015)
ON REMAND FROM THE UNITED STATES SUPREME COURT
Before WILSON, ROSENBAUM, and COX, Circuit Judges.
Case: 14-12585 Date Filed: 08/14/2015 Page: 2 of 2
PER CURIAM:
Appellees, James and Tamara Phillips, are Chapter 7 debtors. They have
two mortgages on their house secured by corresponding liens. The second lien,
Bank of America’s, is completely “underwater.” The Phillipses obtained from the
bankruptcy court an order “stripping off” Bank of America’s second lien as void
under 11 U.S.C. § 506(d). The district court affirmed. Bank of America appealed.
Bound by our prior precedent rule, we affirmed.
The Supreme Court granted Bank of America’s petition for writ of certiorari,
vacated this court’s judgment, and remanded the case for further proceedings in
light of Bank of America, N.A. v. Caulkett, 575 U.S. ___, 135 S. Ct. 1995 (2015).
Under Caulkett, § 506(d) does not permit the bankruptcy court to strip off the
underwater second lien.
Following the issuance of Caulkett, Bank of America filed a motion for
summary reversal in this court. We deny that motion by separate order. We vacate
the judgment of the district court and remand this case to the district court for
further proceedings consistent with this opinion and Caulkett.
VACATED AND REMANDED.
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