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IN RE HOKULANI SQUARE, INC.

Bankruptcy No. 07-00504. Adversary No. 07-90054.

413 B.R. 706 (2009)

In re HOKULANI SQUARE, INC., a Hawaii corporation, Debtor. Walter Y.C. Chang, et al., Plaintiffs, v. Steven Montgomery Crouch, et al., Defendants.

United States Bankruptcy Court, D. Hawai`i.

April 13, 2009.

Attorney(s) appearing for the Case

Alika L. Piper, Bridget G. Morgan, Carisa L.K. Duffy, Simon Klevansky, Klevansky Piper Van Etten, Craig T. Kugisaki Honolulu, HI, for Plaintiffs.

Catherine L. Aubuchon, Margery S. Bronster, Bronster Hoshibata, Christopher J. Muzzi, Moseley Biehl Tsugawa Lau & Muzzi, Honolulu, HI, for Hokulani Square, Inc.

James N. Duca, Lyons Brandt Cook & Hiramatsu, Scott I. Batterman, Clay Chapman Crumpton Iwamura & Pulice, William J. Plum, The Plum Law Office, ALC, Honolulu, HI, for Investors Funding Corporation.

Steve Montgomery Crouch, pro se.

Michael D. Rudy, MacDonald Rudy Byrns O'Neill, Honolulu, HI, for Steve Montgomery Crouch, Naomi Hokulani Crouch.

MEMORANDUM OF DECISION REGARDING LIEN PRIORITY

ROBERT J. FARIS, Bankruptcy Judge.

Defendant Investors Funding Corporation ("IFC") and plaintiffs Walter and Sylvia Chang have filed cross-motions for summary judgment concerning the priority of their liens. IFC holds a mortgage on two pieces of property owned by defendant Hokulani Square, Inc. ("Hokulani"), at 1415 Middle Street (the "Middle Street property") and 1320 N. School Street (the "School Street...

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