A Security Deposit Is an Unsecured Loan, Unless State Law or the Lease Says Otherwise
If a tenant’s security deposit was swept by the landlord’s secured creditor but was not held in trust, the tenant has no recourse other than to file an unsecured claim.
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Case Details
Case Citation
10FN Inc. v. Cerberus Business Finance LLC, 21-5996 (S.D.N.Y. Oct. 18, 2022)
Case Name
10FN Inc. v. Cerberus Business Finance LLC
Case Type
Business