UTA Files Amicus Brief on Key Arizona Decision

Thomas J. Holthus, Esq.

UTA has filed an amicus brief in the case of Vazquez v. Deutsche Bank National Trust Company, as Trustee for Saxon Asset Securities Trust.  The bankruptcy litigation is being pushed in Arizona on an issue involving who owns the note.  UTA’s brief was filed by Matthew Podmenik, Esq., Thomas J. Holthus, Esq., and Kevin McCarthy, Esq., of McCarthy & Holthus, LLP.

The case was originally dismissed in trial court.  The District Court had two questions that were certified for review on appeal by the Arizona Supreme Court. They are:

1. Is the recording of an assignment of deed of trust required prior to the filing of a notice of a trustee’s sale under A.R.S. 33-808 when the assignee holds a promissory note payable to bearer?
2. Must the beneficiary of a deed of trust being foreclosed pursuant to A.R.S. 33-807 have the right to enforce the secured obligation?

This case is likely to be a published decision by the Arizona Supreme Court resulting in significant press and exposure.  Oral argument will be held on September 21st before the University of Arizona law school body.

Read UTA’s Brief

Read Arizona Attorney General’s Brief

Read the BK Order

Read the Defendants Brief