A.R.S. § 47-3602, "an instrument is paid to the extent payment is made by or on behalf of a party obliged to pay the instrument and to a person entitled to enforce the instrument." Thus, if it is true that the FDIC has already reimbursed OneWest for all or part of Steinberger’s default,
OneWest may not be entitled to recover that amount from Steinberger. "
READ THE RULING AT CA-SA12-0087.pdf