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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
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