Southern Floridabanc, S.A. v. Feldman

MEMORANDUM OPINION AND ORDER

JAMES HARVEY, District Judge.

This matter is before the Court on the defendants’ motion to dismiss or to stay the plaintiff’s suit to foreclose on a mortgage. Jurisdiction is predicated upon diversity of citizenship. 28 U.S.C. § 1332. The parties concede that Michigan law controls resolution of this dispute. Erie Railroad Co. v. Tompkins, 304 U.S. 64, 58 S.Ct. 817, 82 L.Ed. 1188 (1938).

I

The plaintiff's action arises from a promissory note executed by the defendant Feldman in 1974. As security, the defendants Feld-Clair, Inc., and Mclean mortgaged to the plaintiff…