September 12, 2022
Glaser Weil LLP earned a significant victory in the Ninth Circuit Court of Appeals for it's client W. Lawrence Patrick, a receiver appointed by the United States District Court who was authorized to sell three radio stations to fulfill a $1.2M judgment. After defeating the judgment debtor’s attempt to terminate the receivership based on the debtor’s claim that funds were available to satisfy the debt, the debtor filed an appeal to the Ninth Circuit. In a published opinion, the Ninth Circuit resolved that appeal in favor of Glaser Weil’s client, upholding the district court’s decision to refuse the termination of the receiver until the debtor pays the amended judgment along with all post-judgment costs, including attorneys' fees.
The Glaser Weil team was led by litigation partners Fred Heather and Aaron Allan.
Fred Heather was quoted in Law360’s article announcing the result: "We are extremely pleased that the Court agreed with Judge Bernal that the Receiver carried out his duties in exemplary fashion, securing the payment of the underlying judgment as well as protecting the interests of other creditors." The opinion "provides needed clarity regarding the discretion courts have in deciding the scope and duration of receiverships."
Click here to read the article. (subscription required)
Click here to read the published opinion.