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More on objecting to claims; time-barred?
Northern CAjoint-debtors owed a sold-out junior recourse home loanlent as to SOL;Ohio's is 6 years, CA's is 4 years (subject to tolling CCP 351-361, butnot an issue in this case).Debtors filed theirchapter 7petitionsomewhere between 4 and 6 years afterthey lost their CAresidence to foreclosure by the senior lender. The bankruptcy court overruled the objection to claim based upon Ohio's SOL period, the BAP reversed.The 9th Circuit Appeals Court reversed the BAPin an interesting opinion (attached).
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
Northern CA joint-debtors owed a sold-out junior recourse home loan under a contract which specified Ohio choice of law but was silent as to SOL; Ohio's is 6 years, CA's is 4 years (subject to tolling CCP 351-361, but not an issue in this case). Debtors filed their chapter 7 petition somewhere between 4 and 6 years after they lost their CA residence to foreclosure by the senior lender. The bankruptcy court overruled the objection to claim based upon Ohio's SOL period, the BAP reversed. The 9th Circuit Appeals Court reversed the BAP in an interesting opinion (attached). Peter M. Lively, J.D., M.B.A. Law Office of Peter M. Lively * Personal Financial Law Center I 11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647 Telephone: (310) 391-2400 * Toll Free: (800) 307-3328 * Fax: (310) 391-2462
14-60061 2017 statute of
limitation in claim objection
context.pdf"
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