DXR Finance Parent, LLC v. Theraplant, LLC

Citations

• 223 Conn. App. 362

Syllabus

The plaintiff sought to foreclose a mortgage on certain real property of the defendant, T Co. The plaintiff alleged that certain lenders entered into a credit agreement with G Co. as the borrower, T Co. and N Co. as guarantors, and the plaintiff acting as the lenders' agent. The credit agreement provided that the lenders would make certain financial accommodations to G Co. T Co., as a guarantor, was liable for all payment obligations if G Co. defaulted, and, subsequently, T Co. entered into a mortgage deed with respect to the subject property to secure its obligations under the credit agreement and guaranty. Following several events of default, the plaintiff commenced this action. The trial court granted the parties' motion for entry of a stipulated judgment of strict foreclosure and rendered judgment thereon. T Co. waived its rights to appeal and to an appraisal, and the parties stipulated to a fair market value of the property based on records of the municipal tax assessor. On the law day assigned by the court, S Co., a nonparty, filed a postjudgment motion to intervene as a party defendant, asserting that it was the plaintiff in a separate action against G Co., which owned T Co., and that it had filed an application for a prejudgment remedy seeking to attach T Co.'s assets, including the subject property. S Co. claimed that the property was substantially undervalued in the foreclosure judgment because the valuation was not based on an appraisal and that its ability to collect a judgment against G Co. would be impaired in the absence of its involvement in the foreclosure action. The trial court denied the motion to intervene after the law day had passed, and S Co. appealed to this court. The plaintiff thereafter filed a motion to dismiss the appeal as moot. Held that, because the appeal was moot, this court lacked subject matter jurisdiction and, accordingly, the appeal was dismissed: there was no appellate stay affecting the running of the law days because S Co.,