First Federal Savings Bank v. CPM Energy Systems Corp.

HUDOCK, Judge:

CPM Energy Systems Corporation (Appellant) appeals the order of the hearing court denying its petition to set aside the sheriffs sale of its personal property. For the reasons which follow, we vacate the order of the hearing court and remand for further proceedings.

The facts and procedural history are as follows: On March 1, 1991, First Federal Savings Bank of Delaware (Appellee), as a secured lien holder of machinery and equipment owned by Appellant and used in its waste processing and pellet plant, confessed judgment against Appellant. A sheriffs sale was held May 24, 1991, on…