Legal Question in Investment Law in California

Investor (FA) made 3 investments of property development in 2006 for 1 residential property development in California and in 2008 for 2 commercial property development in Arizona with a Real Estate Developer (AD) in California.

FA opted out of the projects in 2011 as per agreements as AD was not performing as promised. The AD had given personal guarantees to return the moneys if the project fails. But AD now refuses to honor his commitments saying he has no money to pay back. FA filed a law suit against AD in December 2015 after learning about AD's other similar law suits through public records. What recourse does FA have as the Statute of Limitations are barred now because AD has deliberately not responded to any of FA's queries in the last 3-4 years?

Asked on 4/27/16, 9:27 am

2 Answers from Attorneys

Timothy McCormick Haapala, Thompson & Abern, LLP

Well, none on the facts as you present them. If the applicable statute of limitations has run, it has run. There are various theories and doctrines that might extend the limits of any particular statute of limitations, but without a full evaluation of the facts and evidence and the causes of action that might apply, and then the limitations on those causes of action and the possible theories for extending their time limits, there isn't really anything more that can be said. You need to talk to a lawyer in person with all your documentation and information about the history of the case available.

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Answered on 4/27/16, 9:32 am
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

I agree, and would add that if AD truly has no money, you may not be able to obtain satisfaction of a judgment even if you can win one.

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Answered on 4/27/16, 10:10 am

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