Home Beneficial Life Insurance v. Blue Rock Shopping Center, Inc.

TAYLOR, Judge.

Plaintiff holds a mortgage covering a multi-story office building at 30th and Governor Printz Boulevard, Wilmington, Delaware, on which the mortgage indebtedness with interest exceeds $800,000. The property was sold at sheriff’s sale pursuant to foreclosure of the above mortgage for $390,000 at sale on July 12, 1977. Plaintiff, the mortgagee, was the purchaser at the sale. Defendant, the mortgagor and owner, has moved to set aside the sale on the ground that the sale price was a grossly inadequate price which shocks the conscience of the Court.

Defendant relies primarily upon the…