Stark

INTRODUCTION

Appellant Kane Automotive Group (Kane) appeals from the trial court’s February 6, 2004, orders concerning a sale of assets by court-appointed receiver, Byron Z. Moldo, Esq. (Moldo). In the orders, the trial court denied Moldo’s motion to approve a sale to Kane of the assets of an auto dealership (the Kia dealership assets) following a public auction of the assets, voided Kane’s contractual right to match the highest bid received at auction, directed Moldo to conduct a second auction, and confirmed a sale of the Kia dealership assets to the highest bidder at the second auction, Shaver Automotive Group, LLC (Shaver). We affirm the trial court’s orders.

SUMMARY OF FACTS AND PROCEDURAL HISTORY

Moldo was appointed receiver of the assets and properties of Norman David Stark (Stark) and Stark’s wholly owned corporation, JPS Corporation (JPS), pursuant to Penal Code section 186.11. Kane offered to purchase certain assets of the receivership, specifically, the Kia dealership assets, including the dealership’s franchise or “blue sky” value. Moldo entered into an agreement to sell the Kia dealership assets to Kane. The purchase price was $150,000 for the franchise,…