Judge: Elaine W. Mandel, Case: 20SMCV01545, Date: 2023-05-03 Tentative Ruling

Case Number: 20SMCV01545    Hearing Date: May 3, 2023    Dept: P

Tentative Ruling

City of Calabasas v. Harry A. White, Case No. 20SMCV01545

Hearing Date May 3, 2023

Receiver’s Motion for Authorization to Borrow Additional Funds (UNOPPOSED)

On September 9, 2021 the court appointed Byron Z. Moldo as post-judgment receiver of real property at 22534 Calipatria Drive, Calabasas CA. Moldo was tasked with abating the nuisance, including demolition if necessary. On December 9, 2021 the court authorized receiver Moldo to demolish the property and pay for demolition costs via a secured loan.

Moldo recorded a certificate of indebtedness against the property for $160,850. He states demolition is complete, but the total cost exceeded that amount because asbestos removal was required prior to demolition (See Moldo Decl., paras. 4-6; Exh. 4). He requests leave to issue an additional receiver’s certificate for $102,982, or an amended receiver’s certificate for $263,832, to be determined by the lender, to pay for the necessary asbestos removal.

The court’s order specifically authorized the receiver to borrow funds and issue receiver certificates to pay for abatement of the nuisance. See exhibit 1. The asbestos removal was performed, and the evidence indicates it was necessary to abate the nuisance. The additional loan is appropriate and within the receiver’s powers. GRANTED.