Branch Banking And Trust Company v. Wayne R. Hill Et Al.

In this action for a deficiency judgment following the foreclosure sale of six tracts of real property, some of which were improved by resort cabins, the trial court granted the plaintiff bank’s motion for partial summary judgment against the defendant real estate developers and their limited liability company, for which the developers were guarantors, finding that the developers were liable for deficiency balances owed on promissory notes and guaranty agreements, as well as accrued interest, bank charges, late fees, and attorney’s fees. Following a bench trial concerning the amounts owed, the trial court awarded money judgments to the bank in the amounts, respectively, of $1,180,223.77 against the developers as individuals and $144,848.30 against the developers’ limited liability company. Finding, inter alia, that the developers had failed to properly plead the defense of inadequate foreclosure sales prices, the trial court sustained the bank’s objections to the developers’ requests to cross-examine the bank’s witnesses and introduce additional evidence regarding the adequacy of the foreclosure sales prices and foreclosure process. The trial court subsequently denied the developers’ motion to vacate the order granting the money judgments. The developers have appealed. Discerning no reversible error, we affirm.