Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Alstep Inc. v. State Bank and Trust Co.

Absent a transcript, the evidence presumably supported the trial court's judgment appointing a receiver to take possession of a piece of commercial property in Haralson County, on which a gas station, sandwich shop and a liquor store were located.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

This is an appeal from the trial court’s order appointing a receiver to take possession of certain disputed property. OCGA § 9-8-1 says that, “when any fund or property is in litigation and the rights of either or both parties cannot otherwise be fully protected . . . , a receiver of the same may be appointed by the judge of the superior court having jurisdiction thereof.” The trial court had broad discretion in deciding whether to appoint a receiver, and we cannot discern any abuse of that discretion, particularly because the appellants here have not provided a transcript of the evidentiary hearing held on the receivership motion. We therefore affirm.

1. This case involves a piece of commercial property in Haralson County on which a gas station, a sandwich shop, and a liquor store are located. In June 2008, appellant Alstep, Inc. “Alstep” obtained a $2.26 million loan to finance the purchase of the property and, in connection with the loan, executed a real estate note in favor of the predecessor in interest of appellee State Bank and Trust Company “SB&T”. Alstep also executed a security deed in which both the real estate and the associated personal property of appellants Hye Jeong Park and Yung Ouk Kim the owners of the gas station and the liquor store on the property were pledged to secure Alstep’s obligation to pay under the note.1

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
Southeastern Legal Awards 2025
May 01, 2025
Atlanta, GA

The Daily Report is honoring those attorneys and judges who have made a remarkable difference in the legal profession.


Learn More
Complex Claims & Litigation Forum 2025
February 24, 2025 - February 26, 2025
Las Vegas, NV

This conference aims to help insurers and litigators better manage complex claims and litigation.


Learn More
Legalweek Leaders in Tech Law Awards 2025
March 24, 2025
New York, NY

Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives.


Learn More
Go to Events Go to Webcasts
BANKRUPTCY AND COMMERCIAL LITIGATION ATTORNEY Philadelphia, PA or Wilmington, DE (2-5 years experience)

McCarter & English, LLP, a well established and growing law firm, is actively seeking a talented and driven associate having 2-5 years o...


Apply Now ›
Personal Injury Attorney

Gill & Chamas, LLC seeks a Personal Injury attorney to work in their Woodbridge, NJ office. Candidate must possess the following: ...


Apply Now ›
Finance/Corporate Trust Attorney - CT or Remote

We are seeking an attorney with a minimum of four years of experience in transactional work to join our well-established, nationally renowne...


Apply Now ›
Go to Lawjobs