Worthington H. Talcott, Jr. successfully concluded a commercial foreclosure sale of valuable real estate located in Loudoun County, Virginia, consisting of a residential development containing over 134 acres of raw land and several finished single-family building lots.  The sales price for the property was $6,620,000.00 plus responsibility for completing obligations under various letters of credit in the aggregate amount of $2,469,600.00 and subject to valid filed and unfiled mechanics liens (filed liens totaled $1,428,677.20 on the day of sale).  Settlement was completed, the property conveyed to the purchaser and the proceeds of sale disbursed to the lender within two weeks of the sale.

Worthington H. Talcott, Jr. successfully concluded a commercial foreclosure sale of valuable real estate located on the shores of Deep Creek Lake in Garrett County, Maryland, improved by a two-story structure containing an eight bedroom bed and breakfast with commercial restaurant and bar, including all fixtures, machinery, furniture, equipment, etc., secured by a Financing Statement.  The sales price for the property was $1,200,000.00.

Worthington H. Talcott, Jr. successfully litigates an exception to a 100 year old common law rule that a defaulting purchaser is entitled to the surplus obtained at a resale.

In a case of first impression, the Court of Appeals of Maryland in White v. Simard , 152 Md. App. 229, 831 A.2d 517 (2003), aff'd, 383 Md. 257, 859 A.2d 168 (2004) clarified the 100 year old common law rule regarding application of surplus proceeds obtained at a resale.  Under the prior holdings, the defaulting purchaser was entitled to the surplus proceeds of the resale.  The Court of Appeals agreed with the Trustees that the defaulting purchaser is not entitled to the surplus proceeds even if the higher price at resale results from improvements by the defaulting pruchaser to the property, except in extraordinary circumstances not present in this case.