The only party that can make a credit bid (i.e., use the foreclosure judgment instead of paying cash) is one who is still a senior secured creditor as to the property being auctioned. In my review of the results of many auctions it is apparent that a credit bid was submitted by a party relying […]

Tags: Branch Banking v Tomblin, credit bid, Grable v Nunez, judgment creditor, senior creditor
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