March, 2010 — Eugene Burger has been appointed as a Receiver for several residential and commercial properties located in Las Vegas, Nevada. Over the past 40 + years of Eugene Burger's career he has served as a court appointed Receiver on numerous occasions.
Commercial real estate owners throughout the U.S. are feeling the brunt of the lack of credit availability, in ability to refinance due to a decline in property value, squeeze by tenant defaults and vacancies, and ongoing pressures by tenant's to reduce rents. All of this is what you might call, a perfect storm. Unfortunately, for some bankruptcy is inevitable. In these extreme cases, a court appointed Receiver maybe engaged to help manage the business, collect rents preserve and protect the asset.