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STATESBORO BLUES DEV. v. FARMERS AND MERCH.

No. A09A1956.

690 S.E.2d 205 (2010)

STATESBORO BLUES DEVELOPMENT, LLC et al. v. FARMERS AND MERCHANTS BANK.

Court of Appeals of Georgia.

January 6, 2010.

Attorney(s) appearing for the Case

William K. McGowan, Statesboro, for appellants.

R. Kenny Stone, Statesboro, for appellee.

MILLER, Chief Judge.

Statesboro Blues Development, LLC defaulted on a $3,522,500 loan from Farmers and Merchants Bank. The loan was secured by a deed to secure debt with respect to 61.26 acres of real property located in Bulloch County (the "Property"). The Bank foreclosed on the Property and sold it at auction on December 2, 2008 to the only bidder, also the Bank, for $2,915,000. The Bank then applied to the superior court for confirmation of the sale pursuant to...

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