One of the first steps commercial lenders take to protect their interests in defaulting loans is to take possession of the property, either through the appointment of a receiver or as a mortgagee-in-possession. Fox Swibel’s attorneys have the breadth and depth of experience to assist receivers and lenders (as mortgagees-in-possession) throughout the life cycle of a commercial foreclosure action.
Whether it is drafting the motion to appoint the receiver, filing the final receiver’s report, or advising on all things in between, Fox Swibel has the legal expertise and practical experience to effectively counsel the receiver (or lender) as it manages the property and assets.
Our attorneys routinely counsel lenders and receivers of commercial real estate and industrial properties in the negotiation and litigation of:
- The appointment of the receiver or mortgagee-in-possession;
- Mechanic lien claims;
- Lease disputes and eviction proceedings;
- Construction contracts;
- Building code or other administrative hearings;
- Receiver funding certificates, including obtaining bids and drafting agreements;
- Utility contracts, including communicating with utility companies regarding continuing service; and
- The receiver’s sale of the property in lieu of a traditional judicial sale, including engaging a third-party real estate broker, negotiating the deal, and drafting the purchase and sale documents.