Objection filed against sale Accion property - KUAM.com-KUAM News: On Air. Online. On Demand.

Objection filed against sale of Accion property

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An objection has been filed in the Archdiocese plans to sell its Hotel Accion Property in Yona.

The objection was filed by the Lujan and Wolff law firm which represents certain tort claimant creditors.

They object for several reasons including the lack of an appraisal by the debtor. They also allege the 5% percent realtor commission is exorbitant considering they were initially willing to accept 2.5%. The Lujan and Wolff law firm also question the rush to sell, alleging a better sale can be conceived."The debtor wants a fire sale which benefits everyone but the creditors," according to court documents. 

While the "debtor publicly asks for the congregation to pay for the victims, creditors forgiveness it is not willing to put its money where its mouth is."

Although the listing price was $7.5 million, the Archdiocese plans to sell it to TF Investment LLC for $5.4 million to paid in cash. A realtor's commission will also be paid to the tune of $270,000 at closing. Proceeds from the sale will go to administrative costs, real property tax liens, and settlement payments to the survivors of the clergy sexual abuse cases. A hearing on the sale of the property is scheduled for May 3rd.

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