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Receivership application adjourned on conditions that debtor maintain loan payments and provide financial disclosure.
The applicant bank sought the appointment of a receiver over the assets of the respondent debtor, alleging the debtor committed an event of default by providing falsified financial statements from the vendor of a gas station.
The respondents requested an adjournment to cross-examine the bank's affiant, arguing the evidence of the falsified statements was double hearsay.
The court adjourned the application to a date to be scheduled, on the conditions that the debtor remain current on all loan payments and provide the bank with full visibility into its financial and operational information.
