BML Investment v. Federal Deposit Insurance Corp.

MEMORANDUM OPINION

JORDAN, District Judge.

This is a civil action in which the plaintiff alleges it contracted to purchase from the defendant certain real property which the defendant offered for sale at a public auction. The defendant was the beneficiary by assignment of a deed of trust which covered the real property. The lien of this deed of trust was foreclosed by the auction sale at which the plaintiff or someone on its behalf submitted the highest bid to purchase the real property.

The controversy arises out of the fact that the plaintiff, or the person who attended the auction on its…