A Sydney Sullivan Report
Source: Stopforeclosurefraud – HSBC v CLARK-MOORE | NY SC – As this action is time-barred, it cannot be commenced again and the controversy has therefore reached an ultimate outcome.
This is a most interesting case. Statutes of limitations exist for both civil and criminal causes of action, and begin to run from the date of the injury, or the date it was discovered, or the date on which it would have been discovered with reasonable efforts. In foreclosure cases there have been controversies stemming at times from the games the servicers play with “trial” payments and modifications.
Many statutes of limitations are actual legislative statutes, while others may come from judicial common law. Source: Cornell University Law School, Legal Information Institute. Both federal and state have various statutes and federal bankruptcy statutes of limitations that may even trump the others.
Here, in CLARK-MOORE, the Supreme Court of the State of New York clarified several controversies found in other circuits by specifying precisely when the SOL begins, “by the commencement of the first action” simply stating: