News & Analysis as of August 12, 2025

Debtors

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Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -

Second Department Holds Judicial Estoppel Bars Application of FAPA

McGlinchey Stafford on 8/8/2025

On July 16, 2025, the Appellate Division, Second Department declined to apply the Foreclosure Abuse Prevention Act (FAPA) to a mortgage foreclosure commenced prior to FAPA’s enactment, pursuant to the doctrine of judicial...more

When do the AAA Rules Govern Arbitrability? - Commercial Law Bulletin April 25 2022

McGlinchey Stafford on 4/25/2022

Ohio- Excess Sale Proceeds Royal Oaks Landmark, LLC v. Royal Oak Cal, LLC, 12th Dist. Clermont No. CA2021-06-025, 2022-Ohio-1144- In this appeal, the Twelfth Appellate District affirmed the trial court’s decision,...more

Copper Creek Confirms That Bankruptcy Discharges Have No Effect on the Statute of Limitations in Washington State

Perkins Coie on 3/31/2022

As we previously noted, the statute of limitations on actions to enforce a note or deed of trust can be a brutally effective sword for borrowers in Washington State. Under the six-year limitations period of RCW 7.28.300, a...more

Am I a party entitled to enforce a promissory note?

McGlinchey Stafford on 6/23/2020

Shareholder Derivative Lawsuit Aungst v. Light, 9th Dist. Summit No. 29349, 2020-Ohio-3347 In this appeal, the Ninth Appellate District affirmed the trial court’s decision, finding that when a shareholder’s derivative...more

Real Property, Financial Services, & Title Insurance Update: Week Ending April 26, 2019

Carlton Fields on 5/2/2019

Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more

Debtor’s Actions Immediately After Default Doom Time Barred ECOA Claim

Smith Debnam Narron Drake Saintsing & Myers,... on 10/26/2017

An unpublished opinion from the Sixth Circuit provides a useful application of the statute of limitations to bar a debtor’s claims under the Equal Credit Opportunity Act, 15 U.S.C. § 1691e (“ECOA”). In Guy v. Mercantile Bank...more

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