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LLC v. Friedman Properties Inc.

Court of Chancery of Delaware

February 25, 2015

VFC Partners 20, LLC
v.
Friedman Properties Inc.

Kathleen A. Murphy, Esquire Buchanan Ingersoll & Rooney, P.C.

J. Jack Shrum, Esquire Werb & Sullivan, P.A.

Dear Counsel:

Pending before me are exceptions filed by Defendant Friedman Properties, Inc. to my draft report issued orally from the bench on August 15, 2014, following oral argument on Plaintiff VCF Partners 20 LCC's Motion for the Appointment of Receiver Pendente Lite. In my draft report, I recommended the appointment of a receiver because I concluded that the plaintiff had the contractual right to the appointment of a receiver upon default. After reviewing the parties' briefs, I am vacating my draft report and recommending, in the interest of judicial economy, that this matter be stayed until the resolution of the related foreclosure case that was filed on January 2, 2014, in the Superior Court in and for New Castle County.[1] The parties are referred to Rule 144 for the process of taking exception to a Master's Final Report.

Respectfully,

KIM E. AYVAZIAN MASTER IN CHANCERY


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