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Hotel Mezz 71 Lender LLC v. Falor – Case Brief Summary (New York)

In Hotel Mezz 71 Lender LLC v. Falor, 14 NY3d 303, 317-318, 926 N.E.2d 1202, 900 N.Y.S.2d 698 (2010), the Court of Appeals held that the appointment of a receiver was not an abuse of discretion where there was concern about the defendant's "precarious financial condition," and where there was an "identifiable risk" that the defendant would "be unable to satisfy a future judgment."

In that case, there was no ready market for the intangible property interests at issue, and furthermore, the receivership sought was over the "defendants' ownership/membership interests, not the day-to-day operation" of an entity. (Id. at 318.)