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Huntington Natl. Bank v. Muraco
Citations: 590 N.E.2d 420; 70 Ohio App. 3d 96; 1990 Ohio App. LEXIS 4805Docket: No. 89-L-14-067.
Court: Ohio Court of Appeals; November 4, 1990; Ohio; State Appellate Court
On March 18, 1988, Huntington National Bank initiated a foreclosure action against properties owned by David J. and Maureen T. Muraco. The trial court ordered foreclosure on October 25, 1988, and subsequently directed the sale of the properties, which took place on January 3, 1989. Huntington was the successful bidder and sought confirmation of the sale, which was granted on January 30, 1989. However, the Muracos filed for Chapter 7 bankruptcy on January 27, 1989, triggering an automatic stay that affected the confirmation. On March 21, 1989, Huntington moved to vacate the sale, leading the trial court to partially grant the motion on April 12, 1989, vacating the confirmation but affirming the sheriff's sale. Huntington appealed, arguing that the sheriff's sale should also have been vacated due to the intervening bankruptcy. The trial court's decision was upheld, emphasizing that while the confirmation of the sale was vacated due to the automatic stay, the sheriff's sale itself did not require vacating. The court relied on the precedent set in *In re Tanksley*, noting that bankruptcy courts can annul the automatic stay retroactively, validating actions taken without knowledge of the stay. The trial court determined that Huntington still had legal recourse through the bankruptcy court, countering Huntington's claim of being without options. Ultimately, the court found that Huntington's position remained unchanged as if the bankruptcy had been known prior, affirming the trial court's judgment.