First off know that Judge Leherer is the Chancery judge in
Monmouth. Every county has one (some have more).
As a matter of jurisdiction, Perogative Writs (when you challenge
government action) are a Chancery issue so they go to him. Such
things as receiverships are also a Chancery issue, so they go to him
as well.
Don't read anything into it that these cases are going to Judge
Lehrer. No matter what County Asbury Park was in, these matters
would automatically be assigned to the Chancery judge in the
County. It's just a matter of jurisdiction. No one is chosing the
Judge here.
As for what is next, the receiver (Mr. Zaro) is appointed to be a
fiduciary for the defrauded. That means he has to handle the assets
of REI in a fashion that maintains them for the benefit of the
defrauded (for the benefit of REI too).
He will clearly have to study the issue first to see what is best.
He will likely have discretionary power to eventually sell, but I
expect he will take sometime to see exactly where everything
stands. It might be in the best interest of the defrauded to
complete some projects first. Certainly buildings have to be
maintained pending sale. I'm sure eventually some if not all the
assets will be sold, the question will be when does Mr. Zaro think
the time is right.
Note though that the Court is free to confer whatever powers to Mr.
Zaro it wishes, so I would have to see the Order of the Court to
know for sure. In the paragrpah above I'm speaking in general terms.
I can't rule out that the judge made it simple and empowered Zaro to
simply sell everything right now.
We have to see the Order appointing the receiver to know for sure.
--- In AsburyPark@yahoogroups.com, Allan Peterson <[EMAIL PROTECTED]>
wrote:
>
> what happens next? will the assets go up for sale?
>
> oakdorf <[EMAIL PROTECTED]> wrote: well that, and the judge who does
the appointment is the same one ( I
> think) has handled the eminent domain issues, redevelopment issues
etc.
>
> No that I don't think the firm is good. They are.
>
> I think BB should of been appointed receiver.
>
> We had a deal.
>
> Time for new vultures to line up.
>
>
>
>
>
>
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