Add Papers Marked0
Paper checked off!

Marked works


Viewed works

Shopping Cart0
Paper added to shopping cart!

Shopping Cart

Register Now

internet library library
4,49 € Add to cart
Add to Wish List
Want cheaper?
ID number:175814
Published: 10.02.2015.
Language: English
Level: College/University
Literature: 21 units
References: Used
Time period viewed: 2000 - 2010 years
2011 - 2015 years
Table of contents
Nr. Chapter  Page.
  Index    2
1.  Introduction    3
2.  Auctions    4
2.1.  English auction    4
2.2.  Dutch auction    5
2.3.  Sealed-bid first price auction    6
2.4.  Sealed-bid second price auction    6
3.  Type of auctions by their application    7
3.1.  Voluntary auction sales    7
3.2.  Compulsory auction sales    8
3.3.  Procurement auctions    10
4.  Auction procedure    12
5.  Initial auction price    15
6.  Statement of Auction    18
  Conclusions    21
  Bibliography    22

Although the upper court did not invalided the auction the court’s decision was to repeat the case at the previous court but with different judges but this time to take in to consideration the facts presented from the side of the debtors which can be the basis on invalidation of the auction because it would be the breach of the civil procedure law 600 which states that bailiff has to notify a debtor about the creditor request against immovable property and invite debtor to repay the debt or if the auction is organised the initial auction price. This then would be interpreted as procedural law and according to section 617 of the Civil Procedure Law point 1.6 which states that: “A court shall declare an auction invalid, if by enforcing recovery towards immovable property, the bailiff has allowed important procedural violations...” this would be invalid auction because the bailiff had made procedural violations by not sending the auction notice to the debtors thus the court would have no choice but to declare the auction invalid.
As another example where the court has declared the auction invalid can be looked at the case nr. SKC-724 from the Latvian Republic Supreme Court Senate Department of Civil Cases in year 2005 which was about stopping auction procedure of an immovable property and the bailiff’s procedural violations. The property was planned to sell in an auction in October 4, 2005. The Upper court received appeal from party. As there was an issue about immovable property rights, the auction procedure must be stopped, it regulates by Latvian Civil Procedure Law Article 139, first part, 7th point, which is about Securing of Claims Prior to the Bringing of an Auction. Otherwise, if the auction procedure will be allowed, the auction could be impossible to happen, because the issue about, who holds rights of an immovable property, is unclear. The Senate decided that previous court decision, from September 22, 2005, must be left unchanged.

Author's comment
Load more similar papers


Choose Authorization Method

Email & Password

Email & Password

Wrong e-mail adress or password!
Log In

Forgot your password?


Not registered yet?

Register and redeem free papers!

To receive free papers from it is necessary to register. It's quick and will only take a few seconds.

If you have already registered, simply to access the free content.

Cancel Register