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Redus Florida Commercial, LLCv.College Station Retail Center, LLC, et al.

CourtUnited States Court of Appeals for the Eleventh Circuit
Docket No.13-10418
DecidedDecember 19, 2014
Reporter777 F.3d 1187 (11th Cir. 2014)
JudgesUnited States Court of Appeals for the Eleventh Circuit; Circuit Judges Tjoflat, William Pryor, and Martin; Judge Tjoflat authored the opinion
Tags
CivilGovernment LawProperty LawCivil ProcedureStatutory InterpretationVacaturRemand
Case Summary

Redus Florida Commercial foreclosed on property in federal court and prevailed at the judicial sale with a $100 credit bid against an $11.8 million judgment lien. The United States Marshals Service treated the bid as nominal and calculated its statutory commission from the judgment amount, producing the $50,000 maximum commission instead of a commission based on the sale price. The Eleventh Circuit held that 28 U.S.C. § 1921(c)(1)’s reference to money “collected” means the amount of the accepted winning bid, including when the judgment creditor bids on credit. The court reasoned that the statute ties the commission to money received and paid over at the sale, and that the USMS’s alternative judgment-or-appraisal formula appears nowhere in the statute. Because the accepted bid was $100 and the regulation set $100 as the minimum commission, the USMS was entitled to $100, not $50,000. The court vacated the commission calculation and remanded for further proceedings consistent with that interpretation.

Opinion

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