In Investors Bank v. Trylon/Crest Construction, Inc., 2016 WL 5922751 (N.J. App. Div. Oct. 12, 2016), the Appellate Division affirmed the Trial Court’s discharge of a rent receiver over the defendant’s objection that the receiver was required to make certain payments to the defendant. In October 2008, the defendant borrowed $5,200,000 from the plaintiff, Investors Bank (the “Bank”), secured by a first mortgage on property owned by the defendant. In addition, the mortgage granted the Bank the right to have a rent receiver appointed for the property.

Recent changes to New York’s foreclosure statutory scheme are set to go into effect on December 20, 2016. These wide-ranging revisions include the following amendments:

In Wong v. PNC Bank, No BER-C-335-15 (Ch. Div. Apr. 26, 2016), the New Jersey Chancery Division discussed what constitutes reasonable notice of an adjournment to a sheriff’s sale in New Jersey. In 2014, in a predecessor action, the Court entered Final Judgment in favor of defendant PNC Bank (“PNC”), with respect to real property located in Franklin, New Jersey (the “Property”). 69 North Franklin Turnpike Limited Liability Company (“Debtor”) owned a 10% interest in the property and plaintiff Grace Wong owned 90% (“Plaintiff”).

In MERV Properties, L.L.C. v. Forcht Bancorp., Inc. 2015 WL 5827775, 61 BCD 170 (Bankr. 6th Cir. 2015), the 6th U.S. Circuit Bankruptcy Appellate Panel (BAP) affirmed summary judgment entered by the bankruptcy court for the Eastern District of Kentucky in favor of defendant bank on plaintiff borrower’s fraud and collusion claims.