Spartan Brokerage Group, Inc. v. Golden Plan of California, Inc. (In re Golden Plan of California, Inc.)

MEMORANDUM OPINION AND DECISION

The above two adversary proceedings came on for hearing August 20,1982, ROBERT CRAIG ISELEY, ESQ., of Plefka & Iseley appearing for plaintiffs, and MARTIN B. BRIFMAN, ESQ., of Cooper, Brif-man & Cochrane appearing for defendants. The plaintiffs in each case were substituted as trustee on certain deeds of trust on or before April 25, 1982, and bring these proceedings in their capacity as said trustee. Defendants contend that the aforesaid plaintiffs lack standing to bring the actions, urging that the actions should be commenced by the real parties in interest; namely, the beneficiaries of said deeds of trust. The parties have filed memoranda of points and authorities and have submitted the matter for decision.

ISSUE

Is the trustee under a deed of trust a party in interest as defined in Federal Rules of Civil Procedure, Rule 17(a), for the purposes of pursuing relief from the automatic stay.

DISCUSSION

The trustee under a deed of trust is a party in interest in a proceeding seeking relief from the automatic stay. Such a trustee is an indenture trustee under the Code [11 U.S.C. 101(22) and (23)], and has recognized rights expressly detailed in…