News & Analysis as of

Receivership Liens

Ervin Cohen & Jessup LLP

Can the IRS Obtain a Receiver to Help Collect Taxes Owed?

Q: I have a client who owes money to the IRS. While I know the IRS likely has a tax lien, my understanding was it just waits until a taxpayer’s property is sold and then gets paid out of escrow. Instead, here, the IRS has...more

McCarter & English, LLP

New Law Will Soon Improve Commercial Receivership Rules, Appointment Process in Connecticut

Lenders, investors, and mortgage servicers will have a more favorable and standardized framework for protecting their interests in distressed debt when applying for appointments of commercial receivers beginning July 1, 2023,...more

Partridge Snow & Hahn LLP

Rhode Island Modernizes its Receivership Law By Enacting the Commercial Receivership Act

On June 20, 2022, Rhode Island Governor Daniel J. McKee signed into law the Rhode Island Commercial Receivership Act (“CRA”), which updates and modernizes Rhode Island receivership practice. Pub. L. 2002, ch. 107 and 108. The...more

Snell & Wilmer

Can a Receiver Prime and Strip Liens Against Real Property?

Snell & Wilmer on

Courts overseeing receivers generally enjoy broad discretion in directing and approving a receiver’s proposed actions. But does that authority extend to a receiver not only granting a super-priority lien ahead of existing...more

Patton Sullivan Brodehl LLP

A Potent Superpower: Receiver “Super-Priority” Liens

In the twenty-first century, superheroes are all the rage. Alive and well are never-ending debates about the superiority of DC characters versus Marvel characters, or heroes that are born super, such as Superman, versus those...more

Patton Sullivan Brodehl LLP

Beware “Super-Priority” Receivership Liens

In California, lien priority is usually resolved by a straightforward examination of the time of creation or recordation with the County Recorder, which gives “constructive notice” of the lien to the world. But some liens...more

Rosenberg Martin Greenberg LLP

Maryland Governor Signs into Law New Statute Assisting Commercial Lenders Seeking to Obtain Receiverships over Borrowers and/or...

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

Ervin Cohen & Jessup LLP

How Receivers Should Deal With Secret Liens

Q: I am the receiver for a small grocery store and restaurant owned by an uncooperative divorcing couple. I am in the process of selling the store and restaurant and paying claims....more

Allen Matkins

Momentum Growing in the Effort to Adopt a Uniform Receivership Law

Allen Matkins on

In a November 2017 alert, we discussed the recent effort in support of the adoption of the Uniform Commercial Real Estate Receivership Act (“Act”), which would allow receivership property sales free and clear of liens, impose...more

Miller Canfield

Michigan to Enact the Uniform Commercial Real Estate Receivership Act

Miller Canfield on

A commercial real estate receiver’s powers will be clarified when Michigan’s Uniform Commercial Real Estate Receivership Act (the “Act”) becomes effective in May. The legislation, signed by Gov. Rick Snyder on Feb. 6, 2018,...more

Allen Matkins

The Effort to Adopt a Uniform Receivership Law

Allen Matkins on

There is a recent effort to adopt a uniform receivership act which is applicable to commercial real estate. If adopted in its current form in the 50 states, the receivership laws would provide a consistent treatment of laws...more

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