Creditor seeks extra interest after ‘full credit bid’

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted December 19, 2022 10:56 AM

After winning a $473,072 judgment against Goriana Alexander in 2017, Jefferson & Monroe LLC recorded it as a lien on her condominium and won a foreclosure auction with a full credit bid. But despite the “full credit bid rule,” Jefferson & Monroe insisted it was entitled to an additional $130,000 in post-judgment interest when Alexander sued for a release.Under the full credit bid rule, a judgment creditor is deemed as having received full payment if it obtains the debtor’s property at a …

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