North American Specialty Moves for Summary Judgment to Defend its Alleged $6.8 Million Unsecured Claim Contested by Carolinas Home and Land Investments
January 28, 2022, Western District of North Carolina – Defendant North American Specialty Insurance Company (‘NAS’) moves for summary judgment on the portion of Plaintiff-Debtor Carolinas Home and Land Investments, LLC’s (‘CHLI’) adversary complaint per Rule 56 of the Federal Rules of Civil Procedure and Rule 7056 of the Bankruptcy Rules.
The complaint sought avoidance of the general indemnity agreement that CHLI allegedly signed in favor of NAS under Sections 544(b), 547, 548, 502, and N.C. Gen. Stat. § 39-23.1 et seq. The complaint alleges that the agreement is the basis “of the NAS’s $6,897,625.38 unsecured claim“. CHLI claims that it owes no debt to NAS because its alleged liability under the indemnity agreement is an avoidable obligation. NAS argues that the agreement “is an enforceable promise” made by CHLI and “supported by consideration”.
In re Carolinas Home and Land Investments, LLC, Case No. 20-30619