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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.

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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

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