Utah Supreme Court weighs whether waivers and delay bar challenge to bulk foreclosure sales

The Utah Supreme Court heard argument in Talisker v. Midtown Acquisitions over claims that lenders and a court‑appointed receiver colluded to chill bidding and sell foreclosed property in bulk, depriving Talisker of a fair market sale, counsel for Talisker said.

Talisker attorney Artis Vamanakis told the court the case involves “one of the largest judicial foreclosures in Utah’s history” and alleges misconduct kept secret under a purported common‑interest agreement that deferred an interested purchaser and produced a low credit bid. Vamanakis argued the amended complaint alleges “gross inadequacy of price” and unfairness sufficient under Piper v. Bond and other equitable principles to warrant relief, and that Rule 60(d) permits an independent action to obtain that relief after the sale.

The state’s respondent counsel, Matthew Lawley, representing Midtown Acquisitions and co‑defendant Wells Fargo, answered that the plaintiffs’ own documents contain broad waivers and repayment guarantees that bar the requested relief and that the complaint seeks to vacate or substantially reduce a long‑standing deficiency judgment. Lawley said the repeated, specific waivers and the defendants’ lawful credit bid…