Commercial Banking, Collections, and Bankruptcy

Dist. Ct. did not err in reversing Bankruptcy Judge order that found under Indiana statute plaintiff-Trustee could not avoid debtor's recorded mortgage, which contained technical defect that, prior to 2007 Amendment to said statute, otherwise allowed Trustee to avoid instant mortgage. While 2007 Amendment was ambiguous as to whether it applied to instant mortgage that had been recorded prior to date of said Amendment, 2008 Amendment to said statute clarified 2007 Amendment so as to render 2007 Amendment (which viewed mortgages with instant technical defect as providing requisite constructive notice to Trustee as if properly recorded) applicable to instant mortgage.