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DREYFUSS v. UNION BANK OF CALIFORNIA

No. S082261.

101 Cal.Rptr.2d 29 (2000)

24 Cal.4th 400

11 P.3d 383

Gilbert DREYFUSS et al., Plaintiffs and Appellants, v. UNION BANK OF CALIFORNIA, Defendant and Respondent.

Supreme Court of California.

November 6, 2000.

Attorney(s) appearing for the Case

Wendel, Rosen, Black & Dean, Charles A. Hansen, Thiele R. Dunaway, Oakland; Overton, Lyman & Prince and Gerald R. Whitt, Los Angeles, for Plaintiffs and Appellants.

Pillsbury, Madison & Sutro, Michael J. Finnegan, David S. Rauch, Christopher J. Chaudoir, Los Angeles, and Kevin M. Fong, San Francisco, for Defendant and Respondent.

Gibson, Dunn & Crutcher and Dennis B. Arnold, Los Angeles, for California Bankers Association as Amicus Curiae on behalf of Defendant and Respondent.

MOSK, J.

In this case, borrowers defaulted on a loan secured by separate deeds of trust on three parcels of real property. The creditor bank conducted a nonjudicial foreclosure of one property and then proceeded with serial foreclosure sales of the remaining properties; prior to each successive sale, it did not seek a judicial determination of fair market value of the property sold or purport to credit such amount to the debt.

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