Court Opinion

ID: 9449559
Source: CourtListenerOpinion
Date Created: 2023-08-04 16:15:10.181866+00
Date Added: 2024-06-11T17:31:52.845864
License: Public Domain

BROWNING, Circuit Judge
(concurring) .
The motion to confirm should have been denied. No prejudice could have resulted to the high bidder at the judicial sale except to deny him the benefit of an unconscionable bargain. As a result of the confirmation, creditors remained unsatisfied, and the debtor was left with a substantial deficiency.
The sale was confirmed on the ground that upsetting a tentative sale on the basis of an increase in price of the magnitude involved here would discourage participation in judicial sales. There is nothing to indicate that this is so. The upset bid exceeded the proposed sales price by more than twenty per cent. Judicial sales of property in state court proceedings are not noticeably impeded by statutory provisions requiring that such sales be upset as a matter of course upon the receipt before confirmation of a bid exceeding the previous high bid by ten per cent. See, e. g., Ore.Rev.Stat. § 116.810; Cal.Prob.Code §§ 756.5, 785; Cal.Code Civ.Proc. § 784; Mont.Rev. Codes Ann. § 91-3016; Rev.Codes Wash. § 11.56.110.