Opinion ID: 653233
Heading Depth: 2
Heading Rank: 3

Heading: Amount of Setoff

Text: 38 The district court essentially conducted a trial on paper to determine the amount due under the guarantee. In addition to asserting that the court should have deducted the value of all of the potentially available collateral from Omega's indebtedness, a contention we have rejected, the DeLongs challenge the court's valuation of the four vehicles that were sold to the storage company. 39 The district court's resolution of this issue is problematic. At first the court refused to credit the process server's testimony as to the value of the vehicles, but in the end, it accepted Chausse's $10,000 estimate. Slay's affidavit, however, which the court declined to credit, indicates that some eighteen months earlier those items had been valued at $33,500. 40 In light of the apparent lack of appraisal expertise on the part of Chausse and the large discrepancy between his and Slay's figures, the district court's grant of summary judgment on this issue was improper. A genuine issue of fact remains as to the value of the seized vehicles. Accordingly, we remand for an evidentiary hearing to determine their worth at the time of seizure. 41 AFFIRMED in part, REVERSED in part, and REMANDED.