The Bank of New York Mellon Fka the Bank of New York, as Trustee v. Michael E. Oldemeyer

CourtLouisiana Court of Appeal
DecidedOctober 9, 2019
DocketCW-0019-0348
StatusUnknown

This text of The Bank of New York Mellon Fka the Bank of New York, as Trustee v. Michael E. Oldemeyer (The Bank of New York Mellon Fka the Bank of New York, as Trustee v. Michael E. Oldemeyer) is published on Counsel Stack Legal Research, covering Louisiana Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
The Bank of New York Mellon Fka the Bank of New York, as Trustee v. Michael E. Oldemeyer, (La. Ct. App. 2019).

Opinion

STATE OF LOUISIANA

COURT OF APPEAL, THIRD CIRCUIT

19-348

THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS TRUSTEE (CWABS 2006-BC5)

VERSUS

MICHAEL E. OLDEMEYER A/K/A MICHAEL OLDEMEYER AND KRISTI A. OLDEMEYER A/K/A KRISTI OLDEMEYER

**********

SUPERVISORY WRIT FROM THE TENTH JUDICIAL DISTRICT COURT PARISH OF NATCHITOCHES, NO. 90463-A HONORABLE LALA SYLVESTER, DISTRICT JUDGE

JONATHAN W. PERRY JUDGE

Court composed of Elizabeth A. Pickett, Phyllis M. Keaty, and Jonathan W. Perry, Judges.

WRIT GRANTED AND MADE PEREMPTORY.

Kent B. Payne 321 N. Vermont Street, Suite 207 Covington, Louisiana 70433 (985) 276-9731 COUNSEL FOR DEFENDANT/RELATOR: Kristi Fair formerly known as Kristi Oldemeyer Ronnie J. Berthelot The Law Offices of Herschel C. Adcock, Jr., L.L.C. 13541 Tigerbend Road Baton Rouge, Louisiana 70817 (225) 756-0370 COUNSEL FOR PLAINTIFF/RESPONDENT: The Bank of New York Melon formerly known as The Bank of New York, as Trustee

Jason O. Methvin 211 South Drive Post Office Box 2331 Natchitoches, Louisiana 71457 (318) 352-7272 Curator ad hoc for Michael E. Oldemeyer PERRY, Judge.

Relator/Defendant, Kristi Fair, formerly known as Kristi Oldemeyer

(“Kristi”), seeks supervisory review of the trial court’s judgment which denied her

peremptory exception of prescription. For the following reasons, we grant the writ

and make it peremptory.

STATEMENT OF THE CASE

This litigation began on July 30, 2018, when Respondent/Plaintiff, the Bank

of New York Mellon, formerly known as the Bank of New York (hereinafter referred

to as “the Bank”), filed a “Petition for Mortgage Foreclosure by Executory Process

with Appraisal” in connection to Kristi’s execution of a promissory note on July 20,

2006. The question presented in this matter largely concerns whether certain filings

within a Chapter 13 bankruptcy proceeding Kristi’s ex-husband, Michael

Oldemeyer, instituted, constitutes an “acknowledgment” of the debt sufficient to

interrupt the five-year prescriptive period applicable to actions to enforce promissory

notes.

PROCEDURAL HISTORY

On July 20, 2006, Michael and Kristi Oldemeyer, while married, made and

executed a promissory note in the amount of $100,000.00, payable in monthly

installments beginning September 1, 2006, and continuing through August 1, 2036.

Both Michael and Kristi signed the note as “Borrower,” with Home Loan Center,

Inc. d/b/a LendingTree Loans, the original note holder, being identified as “Lender.”

The promissory note contained an acceleration clause providing that in the event of

default, the holder of the note may require the borrower to immediately pay the full

amount of the principal owed. It further provided that “[i]f more than one person

signs this Note, each person is fully and personally obligated to keep all of the

promises made in this Note, including the promise to pay the full amount owed.” The promissory note was secured by a mortgage on the couple’s property, located at

2143 Johnson Chute Road in Natchitoches, Louisiana.

On January 14, 2010, the Oldemeyers1 received a “Notice of Intent to

Accelerate” from the new note holder, Bank of America Home Loans,2 after failing

to make their monthly payment on December 1, 2009. Specifically, the notice

provided: “If the default is not cured on or before February 13, 2010, the mortgage

payments will be accelerated with the full amount remaining accelerated and

becoming due and payable in full, and foreclosure proceedings will be initiated at

that time.” (First alteration in original.) No further payments were made by either

Michael or Kristi, leaving an unpaid balance of $96,454.40 on the promissory note.

On December 29, 2011, Michael (now presumably divorced from Kristi) filed

a voluntary petition with the Western District of Louisiana to institute a Chapter 13

bankruptcy proceeding.3 Therein, on Schedule F (“Creditors Holding Unsecured

Nonpriority Claims”), Michael listed Bank of America Home Loans as a creditor for

an “obliation [sic] for home located at 2143 Johnson Chute Rd., Natchitoches, LA

(ownned [sic] by ex-wife)” in the amounts of $96,769.40 and $18,235.00. However,

on Schedule H (“Codebtors”), Michael checked a box stating that he “has no

1 It is unclear when the couple divorced. While the notice was addressed to “Michael and Kristi Oldemeyer,” the Bank, in its Opposition, begins referring to Kristi as “Fair” at the time of the notice. 2 Bank of America Home Loans was the successor to the Bank of New York in the chain of title, as explained more fully in Footnote 7. 3 An explanation of Chapter 13 bankruptcy filing was provided by the bankruptcy court in its notice to the creditors as follows, in pertinent part:

Chapter 13 allows an individual with regular income and debts below a specified amount to adjust debts pursuant to a plan. A plan is not effective unless confirmed by the bankruptcy court. You may object to confirmation of the plan and appear at the confirmation hearing. A copy or summary of the plan, if not enclosed, will be sent to you later. The debtor will remain in possession of the debtor’s property . . . unless the court orders otherwise. 2 codebtors.” In any event, Michael listed “None” in Schedule A (“Real Property”),

under which he was ordered to “list all real property[.]” In the accompanying

“Bankruptcy Rule 3015(d) Summary and Notice of a Chapter 13 Plan of

Repayment” (“plan”), Michael agreed to make monthly payments (via payroll

deduction) of $874.00 for an estimated term of sixty months beginning January 28,

2012. However, the plan’s cover page specified that the only amount to be repaid

under the plan was attributable to “Non-Priority Unsecured Creditors,” the sum of

which was stated as “$46,182.80 (of which $11,333.00 will be paid to student

loans).”4 Notably, under Section I(C) of the plan, entitled, “DEBTOR WILL PAY

THESE CREDITORS DIRECTLY OR SATISFY CLAIM BY SURRENDER

OF COLLATERAL”, neither the creditor of the subject property, Bank of America

Home Loans (or any transferees of the note), nor the mortgage itself was listed by

Michael in the corresponding sections.5 In fact, Michael was first asked under

Subsection I(C)(1) whether he, as the debtor, “WILL PAY MORTGAGE(S) ON

PRINCIPAL RESIDENCE/REAL PROPERTY,” to which he responded

“NONE” under the space provided to list any creditors, and left blank the spaces

provided to detail the corresponding “Collateral,” “Estimated Monthly Payment,”

and a beginning date for payment. Further, under Subsection I(C)(3), he was asked

to indicate whether “AS SOON AS POSSIBLE AFTER PLAN

CONFIRMATION DATE, [HE] WILL SURRENDER PROPERTY TO

SECURED CREDITOR TO SATISFY CREDITOR’S SECURED CLAIM,” to

4 After referring to “Non-Priority Unsecured Creditors,” the cover page directs attention to “Sections II(8) & III(C)(10)”, which, after listing the $11,333.00 owed in student loans in Section II(8), provides: “All other allowed general non-priority unsecured claims shall be paid a total of $34,849.80 to be distributed pro rata based on their claim amount. The amount to be disbursed to the non-priority general unsecured creditors may be adjusted only as set forth in III(C)(10).” 5 The only creditors mentioned in the plan were those listed in connection to various “lease/rental/executory contracts” found under section (4) of the plan. 3 which he, again, responded “NONE” as to any creditor, leaving blank the spaces

provided to detail the “Collateral/Property to be Surrendered” and “Terms of

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The Bank of New York Mellon Fka the Bank of New York, as Trustee v. Michael E. Oldemeyer, Counsel Stack Legal Research, https://law.counselstack.com/opinion/the-bank-of-new-york-mellon-fka-the-bank-of-new-york-as-trustee-v-michael-lactapp-2019.