Huntington Nat’l Bank v. Car-X Assocs. Corp.
Annotate this CaseJunior creditor Car-X Associates Corporation sued a mortgagee to foreclose on a lien. In addition to the mortgagee, Car-X’s complaint named senior creditor Huntington National Bank as a defendant to answer as to any interest it may have in the real estate. When Huntington failed to timely respond to the complaint and summons Car-X obtained a default judgment against Huntington. Huntington moved to set aside the default judgment under Indiana Trial Rule 60(B)(1) because of its excusable neglect and under Indiana Trial Rule 60(B)(8) because such relief would be just and equitable under the circumstances. The trial court denied the motion. The Supreme Court (1) affirmed the trial court’s denial of Huntington’s motion to set aside the default judgment for excusable neglect; but (2) remanded to the trial court to reconsider whether equitable reasons support granting Huntington’s motion under Trial Rule 60(B)(8), especially in light of Huntington’s meritorious defense to the underlying foreclosure suit, the substantial amount of money involved, and Car-X’s lack of prejudice from the delay.
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