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How Receivers Can Stabilize Struggling Hospitality Assets

Recent reports say that approximately 25% of hotels cannot pay their mortgages and are at risk of foreclosure. One example is the famed Roosevelt Hotel, which survived a world war and the Great Depression during its nearly 100-year history in Midtown Manhattan, but the COVID-19 pandemic has been too much for it to weather.

The California Health & Safety Code Receivership Remedy: Not Just for Residential Properties!

Here on the Griswold Law Blog, we use the terms “Health & Safety Code Receiver” and “Real Property Receiver” quite a bit in our articles about the different types of situations where a court-appointed receiver can provide a remedy for problematic structures (i.e. abandoned properties or slumlord-owned properties).  However, receivers can be appointed by the Court to rehab non-residential properties as well.  Two example scenarios are explained below:

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