Asset Guaranty Reinsurance Co. v. American National Bank & Trust Co.

PRESIDING JUSTICE McCORMICK

delivered the opinion of the court:

Plaintiff Asset Guaranty Reinsurance Company (Insurer) sued to foreclose on a mortgage. Shortly thereafter, Insurer moved to appoint a receiver. The trial court “entered and continued” the motion for 120 days. Insurer then directed tenants of the property to pay rents directly to its agents. The building owner, defendant Orleans-Institute Place Associates (Orleans), sought emergency relief from the trial court. The trial court entered a second order directing tenants of the property to continue paying rent to Orleans’ on-site…