ARNESEN v. RIVERS EDGE GOLF CLUB

No. 375A14.

781 S.E.2d 1 (2015)

Kenneth ARNESEN, Kristen Chaney, Steve Chaney, Deborah Charuk, William Charuk, Maria Curatolo, Kathleen Jordan, Thomas Jordan, Tanner Markley, John Merritt, Barry McGoff, Joel Schenkel, John Swan, Linda Swan, Audrey Varnum, Richard Varnum, Alan Walbaum, Camille Walbaum, and Lucas Wilson v. RIVERS EDGE GOLF CLUB & PLANTATION, INC., Rivers Edge Golf Club & Plantation, LLC, Coastal Communities, Inc., Mark A. Saunders, Donald Howarth, Mas Properties, LLC, The Mortgage Company of Brunswick, Inc., Brendan Gordon, James Powell, James Powell Appraisals, LLC, Lynn Rabello, Branch Banking and Trust Company, BB & T Collateral Service Corporation, Baxleysmithwick PLLC, and Douglas Baxley.

Supreme Court of North Carolina.

December 18, 2015.


Attorney(s) appearing for the Case

Hodges & Coxe, P.C., by C. Wes Hodges, II , Wilmington, and Sarah R. Buzzard , for plaintiff-appellants.

Teague, Campbell, Dennis & Gorham, LLP, Raleigh, by Jacob H. Wellman and Natalia K. Isenberg , for defendant-appellees James Powell, James Powell Appraisals, LLC, and Lynn Rabello.

Poyner Spruill LLP, by J. Nicholas Ellis , Rocky Mount and Caroline P. Mackie , Raleigh, for defendant-appellees Branch Banking and Trust Company and BB & T Collateral Service Corporation.


In this case we consider whether plaintiffs, individual investors in undeveloped real estate, may recover against a bank and its appraisers for their alleged participation in a scheme to defraud investors by artificially inflating property values in the years preceding the national real estate crisis. Plaintiffs allege, essentially...

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