United States v. Buchman, No. 10-2306 (7th Cir. 2011)
Annotate this CaseA default judgment entered against the defendant, for failure to pay loans from the Department of Agriculture. On the day before property was to be sold at auction, the defendant filed a bankruptcy petition. The judge lifted the stay. The $322,000 proceeds from the sale were inadequate to pay the debt and the government has a deficiency judgment. The trial court denied a motion to set aside the sale and a request for an opportunity to redeem. The Seventh Circuit affirmed. Although the property has transferred to the buyers, who are not parties to the litigation, and their interests are secure, the case is not moot. The sale price, which was below the $513,000 appraisal price, did not "shock the conscience" so as to be invalid under Wisconsin law.
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