What is a Receiver?
A Receiver is an agent of the court. The Receiver acts for the court and holds assets on behalf of the court. The Receiver is a neutral and does not represent any of the parties to the underlying action. Once a Receiver is appointed, a receivership estate is created.
How can I review non-public information regarding this case?
If you are a member of the association (an owner), you may subscribe to this website. Your identify will be verified prior to your subscription being approved.
I am a renter. Can I subscribe to this case?
No, only members (owners) may subscribe to this case.
I am a renter with maintenance issues inside my unit. Who should I contact?
You should contact the owner of the unit.
How long will the case last?
Due to the complexity of this and similar cases, it is not possible to determine the duration of the case. It is possible that the receivership case could remain active for more than a year.
How is the Receiver compensated?
The Receiver and all professionals in the case (i.e. attorneys and accountants) are paid pursuant to fee applications that are submitted to the court and which are subject to review and approval by the court. The Receiver and his professionals are paid on an hourly basis, from the funds recovered in the receivership case.
Can the Receiver provide me with some guidance regarding recent events in this case?
Please check this website regularly for updates. The Receiver will post all public portions of documents filed in this case on his website, but cannot provide investors or other interested parties with legal advice. In the event that you have a specific question regarding your legal rights, you may contact an attorney.
Is there a board of directors?
No, the Receiver has been appointed to solely act on behalf of the HOA. The Receiver will make the sole decisions of the HOA pursuant to the authority granted to him by court order.
Will the roof, mold, boiler and other common area sub-standard conditions be immediately repaired?
No, the HOA has less than $1,000.00 in reserves and it has no excess cash in its operating account. There are no funds available, as of June 2018, to perform this work.
How will the costs associated with sub-standard conditions at the property be funded?
The funding of these costs will be accomplished through a special assessment, a loan or a combination of both. As of June 2018, the Receiver has begun his review and analysis of these options. Any such special assessment and/or loan will be subject to either court approval or a duly noticed HOA board of directors’ meeting (the Receiver is acting as the sole board member).
My awning is torn and in bad condition. Will the HOA be replacing/repairing awnings?
Yes, this will be part of the overall property repair program, including work to the roof, boiler and clubhouse. Work on this project will not begin until funds are secured for the HOA. This process may take many months.
Is the Receiver towing vehicles?
Is the management company towing vehicles?
Who is towing vehicles at the property?
The Receiver has been informed that Security Specialists may be engaged in towing vehicles pursuant to a contract signed prior to the Receiver being appointed. Their phone number is: 800.463.0444.
Who should I make my check payable to for HOA fees?
Tarzana Plaza HOA