EB Investments, L.L.C. v. Pavilion Development, L.L.C.
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EB Investments, LLC and Pavilion Development, LLC filed separate appeals to challenge an a court order that held Pavilion was entitled to redeem certain property in Madison County in which EB Investments, and multiple other parties, held legal interests. In 1997, Pavilion sought to redeem nineteen acres of land purchased by JBJ Partnership at a foreclosure sale. The land was purchased from a development project that went bankrupt. In 1995, the bankruptcy trustee supervised a settlement agreement through which the developer would make payments on the development to its creditors. When the developer defaulted on the settlement agreement, the property was foreclosed and sold. Over the following months and years, a host of counterclaims, cross-claims, and separate lawsuits were filed by various parties who had interests in the property. At issue in this particular case was which party is entitled to redeem the disputed property. The trial court determined that Pavilion was entitled to redeem the property. In its order, the court specified how Pavilion should perfect its redemption. If Pavilion failed to pay all sums required by the court's order, it would waive its right to redeem the property. The court denied the remaining post-judgment motions and certified its judgment as final. EB Investments and Pavilion both appealed that judgment. Though they took opposing sides on most issues in the case, both EB Investments and Pavilions challenged whether the trial court's order was indeed final. They argued that the judgment did not address all other pending issues before the court. JBJ and other parties responded and essentially asked the Court to end this long-running dispute. Upon careful review of the sixteen-year history of the case, the Supreme Court concluded that the trial court's attempt to end it was ultimately insufficient. The Court found that the trial court exceeded its discretion by certifying its judgment as final. Accordingly, the Court reversed the trial court's order, and remanded the case for further proceedings.
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