Olathe Bank v. Mann

Gernon, J.:

This is an appeal from the confirmation of a sheriff’s sale in a foreclosure action. Specifically, Morton and Geraldine Mann contend that the bid approved by the court was substantially less than the “fair value” of the property and represents a liquidation value or recovery value.

A full recitation of the history of the dealings between the Manns and the Olathe Bank (the Bank) is necessary here to comprehend the present case and our conclusion.

In the early 1980s, the Manns, through a corporation known as The Loiret, A French Village, Inc., (Loiret) began the development of a large…