If we assume the legal premise of the position we outlined above is correct, then logically, it would be 12 years. If we accept that the "nature" of the debt changes upon the exercising of Rights of Sub, then until the Lender claims upon the MIG, thereby passing the debt or a portion thereof to the Insurance Co, the debt remains a speciality one and would be subject to the 12 year rule.(posted 8428 days ago)