Is that a valid reason to overturn the sale

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Reference no: EM131494945

Question: Auer and others executed a promissory note to a bank in the amount of $87,000, secured by a lien on the inventory and equipment of Auer's business. When Auer and others defaulted on the loan, the bank took control of the assets and proceeded to sell them in bulk at a public auction. The assets were sold for $8,000. Prior to the sale, debtors were notified of the auction, advertisements were placed in the local newspaper, and announcements were sent to seventy-seven potential buyers. Auer complained that had the inventory and equipment been sold piece by piece rather than in bulk, a higher price might have been obtained. Is that a valid reason to overturn the sale? (In re Auer, 103 Bankruptcy Reports 700)

Reference no: EM131494945

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