SEARCH

RES-GA LJY LLC v. Y. D. I. Inc.

Evidence that the plaintiff acted in good faith in relying on an appraisal to sell the property for less than its true market value at foreclosure did not compel the trial court to find good cause for resale.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RES-GA LJY, LLC hereinafter, “RES-GA” appeals from the trial court’s order denying a resale of real property under OCGA § 44-14-161 c after the trial court denied its petition to confirm a foreclosure sale on the property. Finding no abuse of discretion, we affirm.

RES-GA is an entity formed for the special purpose of taking title to specific property securing a loan that a related entity obtained in a bulk purchase of loans from the Federal Deposit Insurance Corporation. In that capacity, RES-GA was assigned a deed to secure debt executed by Y. D. I., Inc., a/k/a YDI, Inc. hereinafter, “YDI” that secured an indebtedness of $6,000,000. When YDI defaulted on the underlying debt, RES-GA foreclosed on the real property securing that debt and purchased the property at a foreclosure sale for $742,500. RES-GA then brought a complaint for confirmation of the sale against YDI and Jimmy York, who guarantied the debt.

More From ALM

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

From Data to Decisions

Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.

Exclusive Depth and Reach.

Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.

Big Pictures and Fine Details

Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.

New York Legal Awards 2024

September 05, 2024
New York, NY

The New York Law Journal honors attorneys and judges who have made a remarkable difference in the legal profession in New York.

Learn More

African Legal Awards 2024

September 06, 2024
Johannesburg

The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.

Learn More

Consulting Best Firms to Work For 2024

September 12, 2024
New York, NY

Consulting Magazine identifies the best firms to work for in the consulting profession.

Learn More

Marketing Coordinator / Business Development

JOB DESCRIPTION SUMMARY Pulsar Title Insurance Company Inc., a commercial and residential title insurance underwriter based in the Bato...

Apply Now ›

Juvenile Dependency Attorney II/III/IV

RECRUITMENT BONUS Newly hired employees from this recruitment may be eligible to receive bonus payments up to $3,000!* FLEXIBLE SCHEDULE: ...

Apply Now ›

Litigation Counsel - Multiple Offices

Morristown, NJ; New York, NY Description: Fox Rothschild has an opening in multiple offices for a Counsel in our Litigation Department. The ...

Apply Now ›

Lawyers of Distinction

06/27/2024
The American Lawyer

Professional Announcement

View Announcement ›

06/21/2024
Daily Business Review

Full Page Announcement

View Announcement ›