North Carolina Business Litigation Report

Superior Constr. Corp. v. Wachovia Bank, N.A., January 15, 2008 (Jolly)(unpublished)

Plaintiff sought to enjoin a foreclosure sale to be conducted for the benefit of the secured lender. Plaintiff was a general contractor who had done substantial work on the property which was the subject of the sale, for which it was owed more than $ 8 million. Efforts of the owner of the property to find a buyer had been unsuccessful.

The Court refused to enjoin the sale, holding that there was a serious question whether a lienholder had standing to enjoin a sale, and that the stated basis that the sale might not bring enough proceeds to satisfy plaintiff's liens were not a basis for an injunction.

Full Opinion

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Mack Sperling
Brooks Pierce, LLP
2000 Renaissance Plaza
230 North Elm Street
Greensboro, NC 27401

1600 Wachovia Capitol Center
150 Fayetteville Street
Raleigh, NC 27601