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IN RE WASHINGTON COAST I, L.L.C.

BAP No. AZ-11-1529-JuBrD. Bankruptcy Nos. 08-18608-GBN, 09-01035-GBN. Adversary No. 09-00553-GBN.

485 B.R. 393 (2012)

In re WASHINGTON COAST I, L.L.C.; Structural Investments & Planning IV, L.L.C., Debtors. Resource Funding, Inc., Appellant, v. Pacific Continental Bank; Sonas Capital Group, LLC, Appellees.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided December 18, 2012.

Attorney(s) appearing for the Case

Susan J. Williams, Esq. , of Hennelly & Grossfeld LLP, Marina del Rey, CA, argued for Appellant Resource Funding, Inc.; Scott K. Brown, Esq. , of Lewis and Roca LLP, Phoenix, AZ, argued for Appellee Pacific Continental Bank; Richard M. Lorenzen, Esq. , of Perkins Cole LLP, Phoenix, AZ, appeared for Appellee Sonas Capital Group, LLC.

Before JURY, BRAND, and DUNN, Bankruptcy Judges.

OPINION

JURY, Bankruptcy Judge.

Plaintiff-appellee, Pacific Continental Bank (PCB), filed an adversary proceeding (PCB Adversary) against defendant-appellant. Resource Funding, Inc. (RF), seeking to establish its first lien priority in proceeds from the postpetition sale of real property (Lot #173) owned by debtor, Washington Coast I, LLC (Washington Coast), and in other properties owned by Washington Coast and Structural Investments & Planning IV, LLP...

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