Bank of New York Mellon v. Citibank | Cal. Ct. App. - We reverse the judgment because appellant has stated a claim for equitable subrogation, which is not subject to that statute.

Thanks to Dubin Law Offices Filed 2/16/17 CERTIFIED FOR PUBLICATION IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA SECOND APPELLATE DISTRICT DIVISION FOUR BANK OF NEW YORK MELLON, Plaintiff and Appellant, v. CITIBANK, N.A., Defendant and Respondent. Bank of New York Melon appeals from the judgment of dismissal of its lawsuit against respondent Citibank, N.A. The case arose out of the simultaneous refinancing of a home equity line of credit by two different lenders in 2006, which resulted in a dispute over the priority of their recorded deeds of trust. Appellant challenges the orders sustaining respondent’s demurrers to appellant’s first and second amended complaints. The demurrers alleged that all of appellant’s causes of action were barred by the three-year statute of limitations in Code of Civil Procedure section 338 (hereafter, section 338). We reverse the judgment because appellant has stated a claim for equitable subrogation, which is not subject to that statute. [...]