Is there way to collect mortgage owed if property forclosed on appraises as higher?

Is there way to collect mortgage owed if property forclosed on appraises as higher?...We sold our family business consisting of an apartment hotel with 2 successful nightclubs and liquor license. They stopped paying 5 months ago and we finally got possession this month. We returned to find much of the equipment gone, the hotel is disrepair, utilities ready to be turned off due to 2 months behind (they had negotiated with the companies to pay late knowing they would not be there), 2 years real estate taxes due, no insurance ...They still owe us 1.8 but the property will appraise at more because of location. Worse, our attorney says that we can't get the liquor license back because the property value will cover the amount they still owe. Much of our income came from the clubs and we will not be able to pay the bills unless it is returned much less operate the hotel. Is this possible? The contract called for all of the above to be in place as well as maintained and written permission to sell anything. Now they sell everything, even collected rents in advance knowing of the foreclosure promising tenents the next month free and now keep the valuable license? They had not even kept their business licenses up to date and were operating iligally. It was sold as a package but he said that the license must be foreclosed on now seperatly and the property already covers what they owe. Any help?