Publication
Financial Services Litigation Bulletin – March 2012
The Arizona Court of Appeals Expands Anti-Deficiency Protection for Borrowers
By Chris Bayley and Evans O'Brien
On December 27, 2011, the Arizona Court of Appeals issued a decision that, if upheld on appeal, will negatively impact a lender’s ability to obtain a deficiency judgment under certain circumstances. See M&I Marshall & Ilsley Bank v. Mueller, 2011 Ariz. App. LEXIS 216 (Dec. 27, 2011). M&I Marshall and Ilsley Bank (M&I) recently appealed the Court of Appeals’ decision in M&I v. Mueller to the Arizona Supreme Court. M&I v. Mueller is a significant decision that marks a departure from the case law interpreting Arizona’s anti-deficiency statutes over the past 20 years. The purpose of this article is to alert you to the M&I v. Mueller decision and its potential impact, if affirmed on appeal.
About Snell & Wilmer
Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 17 locations throughout the United States and in Mexico, including Los Angeles, Orange County, Palo Alto and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
Contributors
