Based on the court’s findings, a receiver — the appointed officer who has custody of certain assets and can liquidate them and distribute the proceeds — was assigned to the owners association. According to court documents, the receiver was ordered to “audit the books and records going back 12 months and if a reasonable basis existed, for additional time periods beyond the 12-month time period.” The receiver determined that “significant commercial and personal expenses of Abdalla or entities owned or controlled by him were paid by the association over several years.” Court documents allege the commercial entities included Malibu Companies and Coal and Lumber LLC, which the receiver said operated the former restaurant on the property. Read the article…………………………….
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July 11, 2012
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