Bank of Southeastern Connecticut v. Nazarko Realty Group

Opinion

FOTI, J.

The defendants1 appeal from the trial court’s decision rendering a deficiency judgment in favor of the plaintiff.2 The defendants claim that the trial court improperly (1) refused to consider evidence of a subdivision performance bond, (2) refused to apply the lot method of appraisal and (3) applied the discounted cash flow single purchaser method of valuation. We reverse the judgment of the trial court.

The following facts are relevant to this appeal. On October 4,1991, the defendants executed a promissory note in favor of the plaintiff in the amount of $480,000. The note was…