Lafayette Bank and Trust Company v. Charles Szentkuti et al., 27 Conn. App. 15

Summary

The bank instituted a foreclosure action against the property owners. The trial court conducted a hearing to determine the value of the property. Counsel for the property owners, although aware of the hearing, was not present. In his absence, the trial court determined the value of the property, rendered a judgment of foreclosure by sale, and set a sale date. The property owners filed a motion to open and vacate the judgment, which was granted. A new hearing was ordered. Upon the second valuation proceeding, the same court again found the property value. The trial court rendered a judgment of foreclosure by sale, and set the sale date. On appeal, the court found that the trial court had not abused its discretion by rendering a judgment of foreclosure by sale rather than a judgment of strict foreclosure as requested because there was substantial equity in the subject property and because the sale would generate enough cash to satisfy the junior creditors. The court also found that the ...