Bankr. L. Rep. P 69,953 in the Matter Of: Arthur R. Matthews, Jr., Debtor-Appellant v. Martin J. Rosene and John K. Kneafsey

BAUER, Circuit Judge.

We are presented with the issue whether the bankruptcy court properly held that the doctrine of laches barred a debtor’s attempt to nullify a nearly three-year-old state court judgment in favor of a creditor who had counterclaimed in the state court suit instituted by the debtor. The district court affirmed the bankruptcy court’s determination. We affirm.

I

In December 1967, Martin Rosene contracted with Arthur Matthews to sell to Matthews certain residential real estate. Matthews made a small down payment and agreed to subsequent monthly payments. The agreement provided…