Finstad v. Gord, No. 20-1857 (8th Cir. 2021)
Annotate this CaseThe Eighth Circuit affirmed the bankruptcy appellate panel's decision affirming the district court's dismissal of plaintiffs' action based on issue preclusion grounds. Looking to North Dakota preclusion law for the federal common law principles of issue preclusion applicable in this case, the court concluded that its decision in Finstad II that plaintiffs do not have any interest in the property was an issue actually litigated in a prior suit between the parties that is binding on plaintiffs in this lawsuit.
Court Description: [Loken, Author, with Benton and Kelly, Circuit Judges] Civil case - Bankruptcy. For the court's earlier opinion dealing with the Finstads' breach of contract claims, see Finstad v. Beresford Bancorporation, 831 F.3d 1009 (8th Cir. 2016). That decision, which held that that the Finstads do not have any interest in the property in question, showed that interest question was an issue actually litigated in a prior suit between the parties, and the decision that the Finstads had no interest is binding on them in this case; the Bankruptcy Appellate Panel's decision affirming the district court's dismissal is affirmed.
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