Joseph K. Grekin, Jason L. Weiner, Nicholas R. Marcus
October, 2018

Commercial Real Estate Receivership

Joseph K. Grekin, Jason L. Weiner, and Nicholas R. Marcus’s article Commercial Real Estate Receivership was published in the Fall 2018 issue of the Michigan Business Law Journal, a publication of the Business Law Section of the Michigan State Bar. The article discusses Michigan’s recently passed Uniform Commercial Real Estate Receivership Act (“UCRERA”), MCL 554.1011, et seq.

Although Michigan already had both a statute and a court rule governing aspects of receiverships (i.e., MCL 600.2926 and MCR 2.622), UCRERA provides much more substantive rules which detail a receiver’s powers and duties, in addition to the procedures through which a receiver is permitted to sell property and protect receivership assets.  The article was published approximately 6 months after UCRERA was enacted, and examines – by surveys of business court judges and receivers – what impact, if any, UCRERA has had on commercial real estate receiverships in Michigan.