LIFE INS. CO. v. HOCROFT


256 N.J. Super. 328 (1992)

606 A.2d 1150

THE LIFE INSURANCE COMPANY OF VIRGINIA, A VIRGINIA CORPORATION, PLAINTIFF, v. HOCROFT ASSOCIATES, A NEW JERSEY PARTNERSHIP A/K/A HOCROFT ASSOCIATES, A NEW JERSEY GENERAL PARTNERSHIP, DEFENDANT.

Superior Court of New Jersey, Chancery Division Somerset County.

Decided February 28, 1992.


Attorney(s) appearing for the Case

Walter J. Fleischer, Jr., for plaintiff The Life Insurance Company of Virginia, (Shanley and Fisher, attorneys; Nancy A. Washington, on the brief).

Leonard T. Nuara, for defendant Hocroft (Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, attorneys).


ARNOLD, P.J.Cv.

The plaintiff, Life Insurance Company of Virginia (LICOVA), sought the appointment of a rent receiver for an office building on which it holds a mortgage as security for a note which is now in default. The mortgagor, Hocroft Associates (Hocroft), opposed the application and argued that, despite an agreement between the parties providing for the appointment of a receiver in the event of default, the...

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