Petitions of the day

Issue: Whether, under Section 506(d) of the Bankruptcy Code, which provides that [t]o the extent that a lien secures a claim against the debtor that is not an allowed secured claim, such lien is void, a chapter 7 debtor may strip off a junior mortgage lien in its entirety when the outstanding debt owed to a senior lienholder exceeds the current value of the collateral.

Issue: Whether, under Section 506(d) of the Bankruptcy Code, which provides that [t]o the extent that a lien secures a claim against the debtor that is not an allowed secured claim, such lien is void, a chapter 7 debtor may strip off a junior mortgage lien in its entirety when the outstanding debt owed to a senior lienholder exceeds the current value of the collateral.