Madigan v. Potrans International, Inc. (In Re Madigan)
United States Bankruptcy Appellate Panel for the Ninth Circuit
1Opinion of the Court
OPINION
VOLINN, Bankruptcy Judge:
The appellee, Potrans International Inc. (“Potrans”), sued the debtor Francis W. Madigan 1 in state court on a guaranty that was secured by a trust deed. Potrans did not seek to foreclose the trust deed in that action. Prior to bankruptcy, a default was entered against the debtor in the state court action, but no judgment was entered. After filing bankruptcy, the debtor sought to avoid the trust deed based on the California “single action rule,” Cal.Code Civ. Proc. Sec. 726(a), alleging that Potrans waived its right to foreclose on the real property collateral…
2Cases cited8 opinions
- Walker v. Community BankCalifornia Supreme Court · 1974
- In Re ColeUnited States Bankruptcy Appellate Panel for the Ninth Circuit · 1988
- Bank of America v. DailyCalifornia Court of Appeal · 1984
- Brice v. WalkerCalifornia Court of Appeal · 1920
- James v. P.C.S. Ginning Co.California Court of Appeal · 1969
3 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
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- C.J.A. Corporation v. Trans-Action FinancialCalifornia Court of Appeal · 2001
- Farm Credit Bank v. Gayle (In Re Gayle)United States Bankruptcy Court, S.D. Texas · 1995
- Kirkpatrick v. Westamerica BankCalifornia Court of Appeal · 1998
4 more not listed; retrieve them via the Exa API.