ENGAGEMENT: Tarzana Plaza Condominiums Association Receivership Estate
On May 17, 2018, Superior Court Judge Huey P. Cotton appointed Stephen J. Donell as Receiver over Tarzana Plaza Condominiums Association (the “Association”) pursuant to an Order Appointing Receiver (the “Order”) which can be found by clicking here. The Association relates to the property under the control of the Association at 18530 Hatteras Street, Tarzana CA (the “Property”).
Among other things, the Order grants the Receiver with the authority to operate, manage and control the Association and the Property and to take possession of all documents, bank accounts, contracts etc., as well as to collect dues, to maintain the Property, to borrow funds and to assess homeowners for such costs.
There are many issues that the Receiver will be addressing including the current financial condition of the Association, the roof, mold, litigation, boiler, overall maintenance, prior Association acts and other HOA administrative issues. On the day of the Receiver’s appointment, the association was essentially insolvent, with virtually no reserves; therefore, financial considerations are of great importance.
This website will be populated with information regarding this case, including a password protected section for members of the association.