Bethlehem Steel Corp. v. Williams Industries, Inc.

The dispositive issue in this appeal is whether the trial court erred in appointing a receiver to supervise and conserve a debtor’s assets and in enjoining a secured creditor from foreclosing on the assets.

The factual background and procedural history of this case are quite convoluted and span more than a decade. By a deed of trust dated October 24, 1980, and amended by an instrument dated October 12, 1982, Atlas Machine & Iron Works, Inc. (Atlas), conveyed to certain trustees a 54-acre tract of land located in Gainesville, Prince William County, to secure the payment of its multi-million…