Umpqua Bank v. Shasta Apartments, LLC

¶ 1 — We are asked to decide whether the plain language of the receivership statute precludes a secured creditor from obtaining a postsale deficiency judgment against a grantor whose property secured the loan and against a guarantor on the loan after a court-approved receiver’s sale of the secured property. The superior court granted summary judgment and entered a deficiency judgment in favor of Umpqua Bank, a secured creditor, against Shasta Apartments LLC, the grantor whose property secured the loan held by Umpqua, and against Charles Johnson, 1 the guarantor on the loan. The superior court…