Need for appraiser in question on church property sale - KUAM.com-KUAM News: On Air. Online. On Demand.

Need for appraiser in question on church property sale

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Acting U.S. Trustee Tiffany Carroll says Archbishop Michael Byrnes proposed retention of an appraiser after filing a motion to sell Accion Hotel, appears "questionable."

As we reported as part of the Archdiocese' bankruptcy case, it is planning to sell the property to TF Investment LLC for $5.4 million in cash, which is $2 million less than the actual listing price.

According to documents filed today, the Archdiocese in its motion for authorization to sell the hotel asserted that the sale is for fair market value and is in the best interest of the creditors of the estate.

Carroll points out that if that were true, then retaining an appraiser "would not be necessary". She adds that if the appraisal is needed then it would appear that the $5.4 million being at fair market value and in the best interests of the estate are "premature."

Meanwhile the Berman O'Connor and Mann law firm, which represents several victims of clergy child sex abuse, has joined in on the objection to the sale. The motion was initially filed by the Lujan and Wolf Law Firm, which questioned the rush to sell. 

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