Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

Lamont v. Grass

March 30, 1979

VIRGINIA LAMONT, PLAINTIFF-APPELLANT,
v.
REUBEN GRASS, DEFENDANT-TRUSTEE-RESPONDENT.



HONORABLE J. JOSEPH SMITH, HONORABLE WALTER R. MANSFIELD, HONORABLE WILLIAM H. MULLIGAN, Circuit Judges .

Virginia Lamont having appealed an order of the Northern District of New York (Munson, J.), entered on July 7, 1978, affirming an order of the Bankruptcy Court (Marketos, J.), entered July 21, 1977, confirming the sale of certain real property of the bankrupt, David Lamont, to Virginia Lamont for $5,200, and this court having reviewed the record, read the parties' brief and heard oral argument, the order of the district court is

AFFIRMED, substantially for the reasons stated by Judge Munson in his opinion dated July 7, 1978. Bankruptcy Judge Marketos did not exceed his powers or breach his discretion in setting aside the oral confirmation of the sale of the property by Bankruptcy Judge Mahoney to appellant on June 21, 1977, for $1,025, in view of the fact that a prior bidder, Marion Lamont, having bid $1,000, had not been given notice of the June 21, 1977, creditors' meeting at which appellant then topped this earlier bid by $25 and not given the opportunity to increase her bid higher than the $1,025 bid by appellant.

With due regard for the public interest in according finality to judicial sales, In re General Insecticide Co., 403 F.2d 629, 630-31 (2d Cir. 1968), the circumstances here, including the failure to give notice to Marion Lamont, the substituting bankruptcy judge's unawareness that notice had not been given to the competitive bidder, and the increased amount that would be realized from competitive bidding, entitled the court to conclude that the interest in finality was outweighed by the interest in according fair treatment to a competitive bidder. In re Investors Funding Corp., Bankr. L. Rep. (CCH) P66,510 (S.D.N.Y. 1978).

19790330

© 1998 VersusLaw ...

Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.