Steve Stafstrom Quoted on New Commercial Real Estate Receivership Law

As of July 1, 2023 a new law has gone into effect in Connecticut concerning the creation of receiverships for cases involving commercial real estate. Pullman & Comley attorney Steven J. Stafstrom, who also represents House District 129 in Bridgeport and is the chairman of the Judiciary Committee, was a sponsor of the 2021 bill proposing the act, and was recently interviewed for a Westfair Online article about the update.

He explains the bill was designed to fill several gaps in the statutes concerning the rules for the appointment and powers of receiverships over commercial matters. “Among the things it does is establish rules for appointing a receiver, including when a court is authorized to appoint one, what a receiver’s powers and duties are, and what the duties of the owner of a property in receivership is,” Steve said, noting it also clarifies when a receiver can operate as a stay on certain court proceedings.

To read the full article, please visit www.westfaironline.com.