MUSKEGON, Mich. — A court-appointed receiver has taken control of multiple Adelaide Pointe properties and related business entities following a legal dispute involving Independence Bank, according to court documents filed in Kent County Circuit Court.
John Polderman, an attorney with Stevenson & Bullock PLC, was appointed by Judge Curt Benson as receiver on Jan. 30 to manage and operate the assets while the case proceeds through the courts.
Polderman is a Michigan attorney who specializes in receivership and similar cases.
"I can confirm that I have been appointed as receiver," Polderman told FOX 17. "I intend on developing a disposition plan that addresses the concerns of the stakeholders and parties in interest. My first step will be meeting with ownership and reviewing the status of operations."
Polderman also confirmed he will be taking control of all Adelaide Pointe properties subject to mortgages with Independence Bank.
According to court documents, the receiver has been granted to take possession of all property and assets, managing operations, hiring and firing employees, accessing financial records, and selling assets as needed.
The court also issued a restraining order preventing any parties other than the receiver from taking action regarding the assets. A proof of service document shows the order was served Feb. 2 to Joyce M. Lozano, an attorney representing Independence Bank.
The receiver is required to account for all pending litigation, licenses, agreements, contracts, insurance and other records related to the assets' ownership and management.
City officials declined to comment on the matter.
The case remains active in Kent County Circuit Court with multiple law firms representing various parties in the dispute.
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