Cada Investments, Inc. v. Lake

664 F.2d 1158 5 Collier Bankr.Cas.2d 1166 In the Matter of CADA INVESTMENTS, INC., a California corporation, Debtor. Frank TAYLOR, Appellant, v. John H. LAKE and John H. Lake, D.D.S., Inc. Pension Profit Sharing Trust and Bonnie Dunes Ranch, Appellees. No. 79-3440. United States Court of Appeals, Ninth Circuit. Argued and Submitted March 2, 1981. Decided Dec. 28, 1981. Richard M. Moneymaker, Moneymaker & Morrison, Los Angeles, Cal., for appellant. Douglas W. Stern, Jesse Miller, Miller & Mandel, Los Angeles, Cal., for appellees. Appeal from the United States District Court for the Central District of California. Before HUG and NELSON, Circuit Judges, and EAST, * District Judge. NELSON, Circuit Judge: 1 In the bankruptcy proceedings below, the bankruptcy judge set aside the order confirming a property sale to the first buyer, Taylor, when he learned that a second buyer, Lake, had been unable to communicate a higher offer to the Receiver charged with selling the property. From the district court order affirming this action and allowing a subsequent sale to Lake, Taylor appeals. We affirm.FACTS 1 2 These bankruptcy proceedings took place under former Chapter XI of the…