Court Of Appeals Affirms Receiver’s Power To Reject Leases And Strike Cross-Default Clauses Under The Michigan Receivership Act; Reverses And Remands “Stalking Horse Bidder” Issue

The Court of Appeals affirmed the Trial Court’s decision to allow the receiver to reject a lease because the plain language of the Michigan Receiver Act allows a receiver to do so. The COA also affirmed the Trial Court’s decision to strike cross-default language from the contracts with Skymint.