PORTLAND, Maine (AP) - Trustees handling the Bangor Mall’s defaulted loan want an independent manager for the troubled property.
A Superior Court judge was asked this month to appoint a receiver to handle the mall’s property, rents and other items of value covered under the loan agreement.
The Bangor Daily News reports that an attorney declined to say what that may mean for the mall’s future.
The appointment of a receiver sometimes precedes a foreclosure, but the newspaper reports that the potential receiver is advertising for leases at the property.
The Bangor Mall defaulted on a loan last fall, and trustees for the defaulted loan formed a Maine-based company to handle the property in January. Justice Ann Murray is reviewing the company’s request for an independent manger of the property.
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