Insurance — mortgagee in possession

Posted September 18, 2020 10:45 AM

Where dispute of material fact existed concerning mortgagee’s possession of property during deadly fire, grant of summary judgment in insurance dispute was premature and remand was required.The 7th U.S. Circuit Court of Appeals reversed a decision by Judge Virginia M. Kendall, Northern District of Illinois. Chuck and Richard Dai owned a Chicago laundromat. In 2000, the two obtained a commercial loan from Apex Mortgage Corporation secured by a mortgage on the property. The Dais defaulted on the mortgage in 2007, though they …

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