Branch Banking and Trust Company v. Saibaba, L.L.C., 2:12-cv-00688

BB&T sues Saibaba, LLC and guarantors Dahya R. Patel and Sheela D. Patel on an unpaid SBA note secured by a mortgage on a Days Inn hotel in Montgomery County, Alabama.
A receiver (JHS) was appointed to operate the hotel and market it for sale.
Mumford was retained to market the property, resulting in an $850,000 offer and a sales contract with Jemi Patel.
The court and receiver seek to confirm a private sale under 28 U.S.C. § 2001, with appraisers to appraisal and guidance for publication and minimum value.
The court must determine (a) whether to approve the sale, (b) whether to appoint three independent appraisers, and (c) whether to set an expedited hearing on appraisers’ appointment.

Issue	Plaintiff's Argument	Defendant's Argument	Held
Whether the sale should be approved at this time.	BB&T seeks court approval of the sale to Jemi Patel.	Patel/receiver contend for a hearing and compliance with §2001 procedures.	Part grant; sale approval denied pending hearing; hearing set.
Whether three independent appraisers must be appointed under §2001(b).	Appraisers are required to determine appraised value.		Appraisers appointed; requirement satisfied.
Whether to set an expedited hearing on appointment of appraisers.			Denied as moot.
Whether publication and minimum-value safeguards apply before confirmation.			Procedural requirements under §2001(b) must be followed; hearing to confirm sale will consider appraised value and publication.

Bollinger & Boyd Barge Serv., Inc. v. Captain Claude Bass, 576 F.2d 595 (5th Cir. 1978) (recognizes private-sale procedures and appointment of appraisers under §2001)
United States v. Garcia, 474 F.2d 1202 (5th Cir. 1973) (statutory framework for court confirmation of private sales of realty)
Acadia Land Co. v. Horuff, 110 F.2d 354 (5th Cir. 1940) (early authority on private sale procedures and appraisal requirements)