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Polsinelli Podcasts: Out-of-Court Alternatives to Bankruptcy
Servicers and owners of non-performing commercial loans may seek the appointment of a rent receiver to manage cash flow and keep utilities and property vendors current during the pendency of a foreclosure. Connecticut...more
On May 15, 2024, Alabama became the thirteenth state to adopt a version of the Uniform Law Commission’s Uniform Commercial Real Estate Receiver Act (the “Act”). The Act seeks to bring more direction and clarity to...more
During the 2021 Legislative Session, Connecticut adopted a new receivership law based on the Uniform Commercial Real Estate Receivership Act (“UCRERA”) which became effective on July 1, 2023. The UCRERA was drafted by the...more
Commercial loan documents typically include provisions granting a lender the right to obtain appointment of a receiver following a loan default. Historically, these provisions were most often used by lenders to put in place a...more
The Uniform Commercial Real Estate Receivership Act (“UCRERA”), adopted by Michigan in 2018, originally applied only to receiverships over commercial real estate. An amendment effective October 15, 2020, shortens the name of...more
There is good news for commercial lenders in Maryland seeking the appointment of a receiver over a borrower or solely over real estate collateral. On April 30, 2019, Governor Hogan signed into law HB 1065, which creates an...more
The law is always changing. Sometimes changes in the law result from new cases or new statutes. However, sometimes the law changes in reaction to the mood of the country. At present, I believe that that the law may be...more