Puget Sound Production Credit Association v. Oil Screw Johnny A, in Rem, and David Olney, Interested Party v. John Hinchman, Interested Party

FLETCHER, Circuit Judge:

Olney appeals from the district court’s refusal to confirm the sale of a vessel to him and its approval of a second sale of the vessel to another party. We affirm.

BACKGROUND

On May 30, 1985, the Oil Screw “Johnny A” (“Johnny A”) was auctioned at a public Marshal’s sale in Sitka, Alaska. Olney was the high bidder at $410,000. On June 7, 1985, Hinchman filed a timely objection to the sale and offered a bid of $451,000, a ten percent increase over Olney’s bid. In his objection, Hinchman stated that pursuant to District of Alaska Local General Rule (“LGR”) 29 1 and District…