Slaey v. Harrington (In re Slaey)

MEMORANDUM OPINION

T.S. ELLIS, III, District Judge.

This bankruptcy appeal presents the question whether the Bankruptcy Court erred in allowing a creditor’s claim against the debtor for a defaulted loan where, as here, the claim is barred by the statute of limitations unless the debtor’s written agreement not to assert the limitations bar is given effect. A Virginia statute, Va. Code § 8.01-232(A), limits and defines the circumstances under which agreements not to assert the statute of limitations can be enforced. Thus, the question presented in this appeal is, more precisely, whether the…