California Court of Appeal

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.