Monday, May 21, 2012

9th Circuit grants stay pending appeal in a securitized loan case

The 9th Circuit Court of Appeals issued a stay pending appeal in the case Davies v. Deutsche Bank National Trust Co., No. 12-60003.  The case involves issues as whether Deutsche as trustee properly established itself as a creditor in a bakruptcy proceeding, as well as whether the homeowner's TILA claims were improperly dismissed in an adversary proceeding.

It's hard to read the intentions of the Court of Appeals, as they have put this case on an expedited track at the same time as they granted the stay pending appeal.  I suspect the TILA claim will be resolved favorably to the homeowner, just like it was recently done in Bradford v. HSBC Mortg. Corp., no. 1:09-cv-01226 (E.D. Va. Apr. 26, 2012).

More information about this case can be found here:

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