Jeff Wall Quoted in Law360 Article on Effects of Recent Tenth Circuit Opinion

August 26, 2014

On August 26, Mr. Wall was quoted in a Law360 article titled, “Bold 10th Circ. Opinion Muddies FIRREA Challenges,” which discusses the import of the Supreme Court's decision in CTS v. Waldburger for suits by federal agencies over mortgage-backed securities. Before CTS, the Tenth Circuit held that such suits were not time-barred by applicable statutes of repose. The Supreme Court remanded for reconsideration in light of its decision in CTS, but in a panel opinion issued last week the Tenth Circuit reached the same result despite CTS. One court already has disagreed with the Tenth Circuit and found that CTS's reasoning applies equally in the FIRREA context, and the issue is pending in several other courts. Some commentators are therefore predicting that the issue will make its way to the Supreme Court and that the Tenth Circuit's view will prevail. Mr. Wall questions that prediction in the article: “'Even given the sympathetic set of plaintiffs in CTS, the court issued a strong opinion on the difference between statutes of limitations and statutes of repose,' he said. 'The Tenth Circuit is an early word but not likely to be the last word.'”