HAYES v. ALASKA USA FEDERAL CREDIT UNION

No. S-2557.

767 P.2d 1158 (1989)

Joe L. HAYES, Appellant, v. ALASKA USA FEDERAL CREDIT UNION, Larry D. Carpenter, Dennis B. Wise, Kris W. Lethin, the Areo Company, Appellees.

Supreme Court of Alaska.

January 20, 1989.


Attorney(s) appearing for the Case

Paul L. Davis, Boyko, Davis, Dennis, Baldwin & Breeze, Anchorage, for appellant.

Marshall K. Coryell, Coryell & Associates, Anchorage, for appellees.

Before MATTHEWS, C.J., and RABINOWITZ, BURKE, COMPTON and MOORE, JJ.


OPINION

MOORE, Justice.

This appeal raises two important questions of first impression in this State: The first is whether a court may establish a minimum bid or "upset price" for the sale of real property at a judicial foreclosure sale. The second involves the proper standard governing the establishment of an upset price. This appeal arises out of a judicial foreclosure action brought by Alaska USA Federal Credit Union (Alaska USA) against Joe L. Hayes...

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