Nevada High Court: Lender Entitled To Receiver After Commercial Loan Default

Mealey's (August 16, 2022, 12:26 PM EDT) -- CARSON CITY, Nev. — In an issue of first impression, the Nevada Supreme Court on Aug. 11 ruled that a state trial court erred in ruling that a commercial mortgage lender was not entitled to the appointment of a receiver after borrowers defaulted on loans for the purchase of multifamily apartment complexes because the “appointment of a receiver is not subject” to the trial court’s discretion....