Opinion ID: 196328
Heading Depth: 3
Heading Rank: 1

Heading: The General Partners

Text: 22 Whether or not it perfected its lien in the prepetition rents, see infra Section II.B.2, MHFA could have sued the debtor's general partners for the value of the diverted collateral (or, at the very least, for any deficiency between the value of its collateral and any amount recovered by MHFA on its $65,000 unsecured claim against the chapter 11 estate), based on the Regulatory Agreement provision that expressly obligates the partners for funds or property of the Project which come into their hands and which they are not entitled to retain; and ... for their own acts and deeds or acts and deeds of their authorized agents that are in violation of the provisions of this Agreement. See, e.g., Austin v. Unarco Indus., Inc., 705 F.2d 1, 4 (1st Cir.) (automatic stay normally does not foreclose suits against general partners of bankrupt partnership), cert. dismissed, 463 U.S. 1247, 104 S.Ct. 34, 77 L.Ed.2d 1454 (1983); see also supra notes 4 & 7. MHFA has not alleged, nor does the appellate record disclose, that the general partners are insolvent.