Bank of Hawaii v. Horwoth

OPINION OF THE COURT BY

NAKAMURA, J.

The question in this appeal from the final order in an action brought by the Bank of Hawaii to foreclose three mortgages executed by Robert J. Anthony and Annette G. Anthony is how the surplus proceeds of the sale of the mortgaged property, a leasehold estate subject to an agreement of sale, should be disbursed. The Circuit Court of the First Circuit distributed the surplus to the Anthonys, the sellers under the agreement, and to GECC Financial Corporation, a judgment creditor of the Anthonys. We conclude the circuit court erred in doing so because the…