Michael Avenatti agrees to place law firm in receivership after former partner claims he hid money
ABA Journal Daily News
Schmitt: Northland would enter receivership, open within one year
The troubled Hotel Northland project would avoid bankruptcy and foreclosure with a plan to enter receivership that would see the renovations completed within a year. Schmitt: Northland would enter receivership, open within one year The troubled Hotel Northland project would avoid bankruptcy and foreclosure with a plan to enter receivership that would see the renovations […]
New Nevada Laws Governing Commercial Foreclosure and Receivership
With the financial crisis still in mind and the potential “wall of maturities” perpetually on the horizon, the Nevada Legislature has enacted two bills addressing commercial real property foreclosure and commercial real property receiverships. Turning first to commercial foreclosures, the Nevada Legislature previously enacted legislation requiring foreclosing lenders to provide an affidavit of authority indicating […]
Minnesota Court of Appeals Expands Reach of Receivership Statute
On January 9, 2017, an unpublished Minnesota Court of Appeals decision ), held that Minn. Stat. Foreclosure News
Memphis Skyscraper Faces Foreclosure, Receivership
Owners of Memphis' tallest building, 100 North Main Downtown, face foreclosure by a lender and appointment of a receiver to oversee remedies to a lingering anti-neglect case. The 38-story building's primary lender has served notice of a Nov. 18 foreclosure sale due to owner IMH Memphis LLC's failure to meet loan terms. Foreclosure News
The Uniform Commercial Real Estate Receivership Act (Part 2) – …
This post explores those provisions in more detail, including examining the purposes and public policy objectives behind receiver sales, and potential conflicts with California's One Action rule and anti-deficiency framework. With court approval, a receiver may transfer receivership property other than in the ordinary course of business by sale, lease, license, exchange, or other disposition. […]
The Uniform Commercial Real Estate Receivership Act (Part 1) – …
A group called the Uniform Law Commission does the drafting , and the goal is to come up with a comprehensive and standardized statutory scheme that all states can “opt into” in order to give court cases better clarity and predictability. Examples include the Uniform Trade Secrets Act , the Uniform Fraudulent Transfer Act , […]
The Un-Bankruptcy: A Texas Receivership as an Alternative to…
The Un-Bankruptcy: A Texas Receivership as an Alternative to Bankruptcy Creditors seeking to exercise control over a borrower or collateral may utilize a number of remedies. They may seek a foreclosure or UCC sale, assignment for the benefit of creditors, file an involuntary bankruptcy petition under Section 303 of the Bankruptcy Code , [1] or, […]
NCCUSL Approves Uniform Commercial Real Estate Receivership Act
The appointment of a receiver of real property is a common equitable judicial remedy available in all states. It is often sought by a foreclosing mortgagee or others who have, or claim, an interest in the real property. Foreclosure News