The plaintiffs, first-position mortgagees, moved for the appointment of a receiver over a property where the debtors had abandoned a gas station and convenience store business.
The loan had matured, and the property was found abandoned with inventory stripped.
While some subsequent mortgagees opposed, arguing for a direct sale or limited investigative receivership to minimize costs, the court found it just and convenient to appoint a receiver.
The court emphasized the contractual right to appoint a receiver, the abandonment of the property, and the need to preserve assets and explore a going concern sale.
The motion was granted, and Rosen Goldberg Inc. was appointed as receiver with full powers.
