Garden, Jr. v. Central Nebraska Housing Corp., et al., No. 12-2344 (8th Cir. 2013)
Annotate this CasePlaintiff, acting as trustee for certain farm property pursuant to a deed of trust, brought this interpleader action seeking a determination of rights to the sales proceeds from an auction of the farm. The court held that the district court properly denied CNH's motion for summary judgment where CNH did not have a valid contract to purchase the farm; CNH could not set aside the sale to Gittaway Ranch; CNH failed to offer any evidence that its attorney's fees were reasonable and necessary or incidental to the protection or improvement of the farm; and the district court did not abuse its discretion in awarding sanctions against defendants.
Court Description: Civil Case - bankruptcy. In interpleader action to determine rights to sales proceeds from a farm auction, district court properly denied CNH claim that its bid at the end of the ten-minute auction time was accepted; did not err in failing to set aside sale to Gittaway Ranch due to defective auction process; did not err in excluding as part of the secured claims an amount of attorneys fees paid by the Robertses; and did not abuse its discretion in awarding sanctions for violations of the automatic stay. CNH waived its claim relating to inspection costs. Judge Gruender concurs in part and dissents in part.
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