In a recent decision in New York County Supreme Court, the Court granted the plaintiff lender’s pre-summary judgment motion to appoint a receiver in a mortgage foreclosure action, even though the defendants (borrower)...more
The New York County Supreme Court recently held that in the event of foreclosure, a receiver can be appointed, regardless of necessity, when the parties have contracted for such appointment. 24 West 57 APF LLC (“Defendant”)...more
Typically, the receiver will market the property for sale using the same methods as it would for any other commercial property. It will install signage on the property, list the property with the appropriate online commercial...more