Cohen v. Metropolitan Federal Savings & Loan Ass'n

We reverse the trial court’s Order Denying Objections to Sale and Confirming Sale to the extent that it fails to provide appel*119lant Cohen a pro rata distribution of the foreclosure sale bid of appellee/purchaser Metropolitan Federal Savings and Loan Association [Metropolitan].

Pursuant to court order, the receiver issued eleven certificates. Cohen purchased a receiver’s certificate for $80,000.00 and Metropolitan purchased the remaining certificates for $304,042.27. The receiver’s certificates state that “[t]he aforesaid principal amount plus interest thereon shall become due and payable one…