Page 18 - John Hundley 2010

Welcoming Bentley Bender

The Sharp Law Firm, P.C. is pleased to announce that Bentley J. Bender, member of the bars of the states of Missouri,
Illinois and Louisiana and of the United States District Courts for the Eastern District of Missouri and
the Southern and Central Districts of Illinois, has joined the firm.
Ben has received both a Juris Doctorate and a Master of Law in Taxation from Washington
University in St. Louis, in 2004 and 2007 respectively, and achieved a double-major B.A. in political
science and psychology from Tulane University in New Orleans in 2001. He graduated cum laude
from Tulane University after being named to the Dean’s List. While attending Washington University
School of Law, Ben was honored to receive both the Phillip Gallop Award and the Cali Award for
Academic Excellence. A member of Mensa, he is expected to help the firm broaden its services to
clients with tax problems and with other problems where taxes have an impact.
Ben has extensive experience in bankruptcy, practicing with the boutique of Macey & Aleman in St.
Louis before joining the firm. He also was recognized for his work with the Louisiana Transitional Recovery Office of the
Federal Emergency Management Agency for his efforts to aid in the recovery of the city of New Orleans following
Hurricane Katrina.
His practice also includes commercial litigation, business law, creditors’ rights and commercial transactions.
Ben may be reached at our Mt. Vernon office, 618-242-0246, Bbender@lotsharp.com.
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

and (ii) the court is satisfied that there is a reasonable probability that the mortgagee will prevail on a
final hearing of the cause”. Because virtually all mortgages contain clauses authorizing possession
or appointment of a receiver upon default, most hearings seeking
such relief in non-residential cases turn on whether the plaintiff
has shown “reasonable probability” of success upon final hear-
ing. But argument on that element has been restricted by
case law defining reasonable probability of success as mere
proof there is a default under the mortgage.
Hence, in commercial cases the plaintiff ordinarily must point only to a default and to the clause in
the mortgage authorizing mortgagee-in-possession or receivership. And as to the default, the court
held the defendants bound by the stipulations to that effect in the “side letter” agreements.
Defendants in 108 N. State fought on, however, arguing plaintiff had not shown “good cause” for
receivership. The court rejected that appeal, however, noting that statutory language creates a
presumption in favor of receivership (or mortgagee in possession) unless the defendant can show
good cause for denying such relief. 108 N. State continues the practice of rejecting arguments that
“good cause” exists because existing management can manage property better than the
proposed receiver (or mortgagee). It keeps alive the prospect that “good cause” may be shown in
the form of a transaction which will cure the default, such as a refinance or cash from a new investor.
However, the court said such relief must be “imminent”, not a mere possibility.

108 N. State thus teaches the circumstances in which a defaulting mortgagor will be able to defeat
receivership or a motion for possession are few. It also teaches that concessions of default required
to obtain forbearance once a default has occurred must be taken seriously. John\SharpThinking\#36.doc
●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
THE SHARP LAW FIRM, P.C.

1115 Harrison, P.O. Box 906, Mt. Vernon, IL 62864 • Telephone 618-242-0246 • Facsimile 618-242-1170 • www.thesharpfirm.com

Business Transactions • Litigation • Financial Law • Problem Finances • Real Estate • Corporate • Commercial Disputes • Creditors’ Rights •
Arbitration • Administrative Law • Employment Matters • Estate Planning • Probate

Terry Sharp: law@lotsharp.com; John T. Hundley: Jhundley@lotsharp.com;
Jana Yocom: Jyocom@lotsharp.com; Bentley J. Bender, Bbender@lotsharp.com.
Real Estate Closing and Title Services, see www.sharptitleservices.com

Advertising Material