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The Larouche Decision
Facts (continued):
- Company defaulted on its loans.
- Bank caused Larouche's immovable to be sold by judicial
authority.
- The officer prepared a scheme of collocation. After
collocating commissions and fees in respect to the sale
and the claim of the first-ranking secured creditor, there
was a balance of $141,013.06, which was paid to the
Bank (Bank claimed that it was entitled to recover up to
$150,000 pursuant to the principal and additional
hypothecs).
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