Oct 21, 2016

Comerica Bank that owns the loan to Budget Motel has served the Kushwahas with receivership documents

Attorneys were in court today before Judge Dale Reinholtsen. Next court hearing is on February 3, 2017.

Confirmation of receiver will be decided at next hearing.

From West's Dictionary of American Law:

A court order whereby all the property subject to dispute in a legal action is placed under the dominion and control of an independent person known as a receiver.
Receivership is an extraordinary remedy, the purpose of which is to preserve property during the time needed to prosecute a lawsuit, if a danger is present that such property will be dissipated or removed from the jurisdiction of the court if a receiver is not appointed. Receivership takes place through a court order and is utilized only in exceptional circumstances and with or without the consent of the owner of the property.

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