Shuttering Cherry Hill Foreclosure Firm Doesn't Need Receiver, Judge Rules

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Shuttering Cherry Hill Foreclosure Firm Doesn’t Need Receiver, Judge Rules

Shuttering Cherry Hill Foreclosure Firm Doesn’t Need Receiver, Judge Rules

LAW-

A South Jersey foreclosure firm in the process of closing will not have to go into receivership because of an alleged six-figure debt to a legal advertising firm, a federal judge has ruled.

U.S. District Judge Gene E.K. Pratter in the Eastern District of Pennsylvania on March 22 denied Mansfield Advertising’s request for the appointment of a receiver for Udren Law Offices.

“There is no evidence of fraud, no evidence of irreparable injury, and nothing to suggest that the benefits of appointing a receiver outweigh the costs,” Pratter concluded in the opinion. ”The court cannot appoint a receiver in any case simply because a plaintiff likely has a meritorious monetary claim against an insolvent defendant.”

Mansfield Advertising of Philadelphia sued Cherry Hill-based Udren Law Offices in August, claiming the law firm failed to pay more than $138,000 in legal advertising fees. Udren Law represented lenders and mortgage servicers on real estate matters in Florida, New Jersey and Pennsylvania.

[LAW.COM]

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