In Re Vern O. Laing, Debtor. Lawrence A.G. Johnson Don Bradshaw v. Vern O. Laing

EBEL, Circuit Judge.

This is an appeal 1 from a district court order affirming the decision of the bankruptcy court to allow, but reduce in amount, a claim against debtor Vern 0. Laing. The claim is based on an obligation previously reduced to judgment in a state (Oklahoma) court action brought against Laing by appellant Don Bradshaw, assign-ee of the note evidencing Laing’s obligation. The overriding issue raised on this appeal is whether the lower courts erred in denying preclusive effect to the state court judgment by re-determining Laing’s liability on the note — under primarily equitable,…