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A receivership is a court order to restructure debt, placing control of the company under a receivership. The principals of the company will stay in place and retain their titles, but likely will ...
A Superior Court judge on Friday afternoon was poised to formally place the Providence Place mall into the start of receivership proceedings after its chief lender alleged in court papers that the ...
An example is the California Receivers Forum, which is a non-profit organization "formed by interested receivers, attorneys, accountants, and property managers, with support from the Los Angeles Superior Court, to address the needs and concerns of receivers, to facilitate communication between the receivership community and the courts, and to ...
The defendants argued that the agreements contained clauses that required disputes to be submitted to arbitration, [7] while the plaintiffs stated that, as a court-appointed officer, the Receiver was not bound by the debtor's contracts, and could seek the direction of the court in order to achieve the objectives of the Bankruptcy and Insolvency ...
While the receiver, retired Miami-Dade Circuit Court judge Alan Fine, says the auction is necessary to raise cash to pay back some of the $83.5 million owed to creditors, lender Altamar Financial ...
The sale must be a true sale - a mortgagee cannot sell to himself, either alone or with others, even for fair value; [21] such a sale may be restrained or set aside or ignored. [22] However, if the court orders a sale pursuant to statute, the mortgagee may be expressly permitted to buy. [23] The third remedy is to appoint a receiver.
A receivership is when an external administrator known as a "receiver" (usually a "receiver and manager" if it requires controlling the company) is appointed by a secured creditor to sell off a company's assets in order to repay the secured debt, or by the court to protect the company's assets or carry out other tasks. [1]
A Los Angeles County Superior Court judge signed off on Wednesday on a $10 million deal to sell 17 homeless housing properties to Beverly Hills developer Leo Pustilnikov. Sale of massive Skid Row ...
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