California Court of Appeal

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FIRST COMMERCIAL MORTGAGE CO. v. REECE, B137132

The rule that a full credit bid operates as an admission by the bidding lender of the property-s value does not preclude a claim by the repurchasing lender that it suffered damages from the compelled repurchase as a consequence of the defendant-s misrepresentation or breach.

Appellate Information

  • Decided 05/31/2001
  • Published 05/31/2001

Judges

  • KLEIN, P.J.

Court

  • California Court of Appeal

Counsel

  • For Appellant:
  •  Severson & Werson, Jan T. Chilton, San Francisco, and Suzanne M. Hankins, for Plaintiff and Appellant.

  • For Appellees:
  • Chapin, Shea, McNitt & Carter and Neil Gunny, Orange, for Defendant and Respondent Donald R. Reece., Wiezorek, Rice & Dieffenbach, Steven C. Rice, Long Beach;  and Herman Thordsen, Santa Ana, for Defendants and Respondents Andrade Financial and John Andrade.
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