Wednesday, September 1, 2004
Vincent P. Cravero v. LLP Mortgage Ltd.
No.03-1671

Broward County


In 1995, the Petitioners defaulted on their mortgage, and the U.S. Small Business Administration accelerated their debt. In 2001, the SBA assigned this mortgage to LLP Mortgage Ltd. The five-year statute of limitations had already run on LPP's claim. The question presented is whether LLP, as the SBA's assignee, inherited the government's immunity from Florida's statute of limitations.