The Community Bankers Association of Illinois (“CBAI”) is thrilled with the U.S. Supreme Court’s June 1 decision resolving the case of Bank of America, N.A.v. Caulkett and with the efforts of CBAI Associate Member law firm SmithAmundsen LLC in preparing an amicus brief on behalf of CBAI and CBAI’s members throughout Illinois. The victory in this decision protects the secured interests of junior lienholders in bankruptcy cases, and CBAI believes that the arguments submitted in the amicus brief were reflected in the Court’s opinion. A big “thank you” to SmithAmundsen LLC, including Michael Cortina and John Collen, who guided CBAI through the amicus drafting and kept CBAI apprised of the status of the case. The Caulkett decision is a big victory for junior lienholders. Click here to review more about the case and the Supreme Court’s opinion.