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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). 52
The Larouche Decision Facts (continued) Larouche did not object to the Bank’s claim for $125,000 under the principal hypothec, but challenged the merits of the collocation of the Bank’s remaining claim for $16,013.16 under the additional hypothec. 53
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