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Otto Gerdau Company v. Anasae Realty Corp.

Appellate Division of the Supreme Court of New York, First Department
Jun 16, 1998
251 A.D.2d 174 (N.Y. App. Div. 1998)

Opinion

June 16, 1998

Appeal from the Supreme Court, New York County (Helen Freedman, J.).


In view of the announcements of the adjourned dates made to bidders in attendance on the prior scheduled sale dates and the corrected publication of the sale date, we agree with the IAS Court's conclusion that there was adequate notice to potential bidders to insure the fairness of the sale. Defendant's assertion that the initial obviously erroneous publication of the sale date reduced the number of bidders at the sale and adversely affected the sale price is entirely speculative and, as such does not constitute a ground for setting the sale aside ( see, Buttermark Plumbing Heating Corp. v. Sagarese, 119 A.D.2d 540, lv denied 68 N.Y.2d 607). "A court may exercise its equitable powers to set aside a judicial sale only where fraud, collusion, mistake, or exploitive overreaching casts suspicion on the fairness of the sale" ( Crossland Mtge. Corp. v. Frankel, 192 A.D.2d 571, 572, lv denied 82 N.Y.2d 655). It is plain that defendant has not demonstrated the existence of any of these conditions.

We have considered the defendant-appellants other arguments and find that they are without merit.

Concur — Milonas, J. P., Nardelli, Wallach and Saxe, JJ.


Summaries of

Otto Gerdau Company v. Anasae Realty Corp.

Appellate Division of the Supreme Court of New York, First Department
Jun 16, 1998
251 A.D.2d 174 (N.Y. App. Div. 1998)
Case details for

Otto Gerdau Company v. Anasae Realty Corp.

Case Details

Full title:OTTO GERDAU COMPANY, Respondent, v. ANASAE REALTY CORPORATION, Appellant…

Court:Appellate Division of the Supreme Court of New York, First Department

Date published: Jun 16, 1998

Citations

251 A.D.2d 174 (N.Y. App. Div. 1998)
674 N.Y.S.2d 350

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