Recently, William Buus obtained a favorable and rare order in which a Superior Court Judge appointed a receiver on an ex parte basis (meaning on short notice). William argued that a receiver should be appointed in a case where rental property owned by his clients and controlled by defendants was being mismanaged and falling into foreclosure. The court agreed that a receiver should be appointed since it was unclear what defendants were doing with rents obtained from the property and why defendants were not paying the mortgage.
The receiver will take control over the rental property, collect rents, pay bills, and make an accounting of the property's past operations. The suit against defendants alleged, among other things, breach of contract, breach of fiduciary duty and fraud. This is a big win for the clients, who now have an opportunity to save their investment.