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Estate of Haiko v. McGinley

Order enforcing settlement entered into between parties prior to discharge of defendants' debts in bankruptcy affirmed; where settlement consisted of one defendant's forfeiture of interest in plaintiff estate and where, under state law, defendant did not have a property interest in that disputed property, he could not shelter that property upon filing a bankruptcy petition.

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OPINION

� 1 Neil McGinley and Theresa McGinley (“the McGinleys”) appeal the trial court’s order granting a petition to enforce settlement filed by the Estate of Stephen J. Haiko (“the Estate”). The McGinleys contend that the court erred in ordering enforcement because the parties had never entered a cognizable settlement of the underlying claim. The McGinleys argue in the alternative that if a settlement is deemed to exist, any right the Estate had to enforce its provisions was waived when the Estate failed to file an appropriate objection during the McGinleys’ subsequent Chapter 7 bankruptcy. Finally, the McGinleys contend that the court reached its findings on the basis of legally insufficient evidence. We conclude that the McGinleys have failed to establish trial court error. Accordingly, we affirm the court’s order.

� 2 This matter arises out of the McGinleys’ alleged default on a promissory note payable to Haiko. Haiko was Neil McGinley’s grandfather. In 1990, Haiko advanced the McGinleys $149,900 to buy a marital residence. As a condition of the advance, Haiko required the McGinleys to execute the promissory note at issue here, agreeing to repay Haiko $75,000. The note provided generous repayment terms, but also allowed confession of judgment in the event the McGinleys failed to pay the obligation.

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