Creditor's Rights
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Case Details
The U.S. District Court for the Western District of Virginia upheld a favorable creditor’s rights decision on appeal from the U.S. Bankruptcy Court for W.D.Va. In Phillip Guertler, et al., v. DuPont Community Credit Union, Judge Elizabeth K. Dillon ruled that a creditor who elects not to sue all debtors on a joint contract in an original action does not lose its right to sue any of the joint debtors in a subsequent action. Thus, a creditor properly filed a proof of claim against joint debtors even though it had not sued both debtors prior to the commencement of one debtor’s bankruptcy petition.
Additional Notes
The Court’s ruling confirmed the interpretation of relevant statues that had been reached by several treatises, but which had not yet been precisely addressed by Virginia courts.
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