Prudential Ins. Co. of Amer. v. Spencer’s Kenosha Bowl, Inc. Case Brief Summary | Law Case Explained

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Prudential Insurance Company of America v. Spencer’s Kenosha Bowl, Inc. | 137 Wis.2d 313, 404 N.W.2d 109 (1987)

When a court awards a mortgage holder damages for waste, the property owner appeals, and the court lays waste to the owner in Prudential Insurance versus Spencer’s Kenosha Bowl.

Delco Development owned a building. Prudential held a mortgage on the building. Delco sold the building to Spencer’s, but Spencer’s didn’t take over the mortgage. Delco defaulted on the mortgage. Because the building secured the mortgage, Prudential foreclosed on it even though it belonged to Spencer’s. Prudential tried to recover the money owed through a sheriff’s sale of the building. The building sold for $635,000. Then, over $300,000 remained on the mortgage, which was the debt deficiency.

While Spencer’s owned the building, it fell into disrepair, including the development of problems with the roof. Spencer’s also owed property taxes. Prudential claimed that Spencer’s committed waste because of the condition of the property.

At a hearing, the judge found for Prudential. The sum of the building’s damages and outstanding property taxes was higher than the debt deficiency, so the judge ordered Spencer’s to pay the deficiency and a small amount for rent. Spencer’s appealed the court’s award for waste to the Wisconsin Court of Appeals.

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